Singapore Exchange (SGX) today said 40% of its broking members, numerous proprietary trading firms and several vendors including crossing network operator Chi-East, have chosen its new co-location service months before its first-quarter 2011 launch.
By re-locating their trading applications to the new state-of-the-art SGX data centre, co- location customers can transact with SGX’s trading engine at the lowest possible latency. SGX will also house its market data and clearing infrastructure at the data centre.
SGX unveiled its co-location offering yesterday as part of a $250 million initiative to deliver the world’s fastest access to Asia. Customers will also have the opportunity to optimise on two other components of the investment.
These are SGX Reach — a new trading engine with the world’s fastest execution capability currently — and SGX hubs — local connectivity points to SGX at the key financial centres of Chicago, London, New York and Tokyo.
Rama Pillai, Head of Intermediaries and Market Access at SGX, says: “We are pleased that so many of our customers are joining our community as co-location pioneers. This community will be able to interact at ultra-low latency with SGX engines in a data centre developed to the highest standard (Tier-4).”
Pioneers of SGX’s co-location community include:
1 Barclays Capital Futures
2 Chi-East
3 Citigroup Global Markets Singapore
4 Credit Suisse Securities Singapore
5 DBS Vickers Securities Singapore
6 Deutsche Futures Singapore
7 DMG and Partners Securities
8 Fortis Bank Global Clearing, N.V.
9 Goldman Sachs Futures
10 Interactive Data Real-Time Services
11 Kim Eng Securities
12 Merrill Lynch Singapore
13 Morgan Stanley Asia (Singapore) Securities
14 N2N Connect
15 Newedge Financial Singapore
16 Nomura Securities Singapore
17 OCBC Securities
18 Phillip Securities
19 RTS Realtime Systems
20 Sungard
21 UOBF Schneider Trading
Monday, June 14, 2010
SGX invests $250 million to offer fastest access to Asia
Singapore Exchange (SGX) today announced a $250 million plan to strengthen Singapore’s position as the best market for accessing Asia.
The new initiative, dubbed Reach, will create the world’s fastest trading engine with the lowest trading latency, establish a world-class data centre for SGX and seamlessly connect trading communities in global financial hubs to Singapore. Reach will be rolled out from the first quarter of 2011.
“The resulting trading environment will be ideal for global investors, including sophisticated traders and participants new to the region. It will bring better liquidity and greater velocity to the market, enhancing SGX’s position as the Asian Gateway,” says SGX.
SGX’s new trading engine will be delivered through NASDAQ OMX’s Genium INET platform, Voltaire’s InfiniBand solution and HP’s technology. On May 7, SGX conducted a benchmark test with its partners at HP's Singapore Capacity Planning Centre and established an average order response time of 90 micro-seconds “door-to- door”.
The new SGX data centre — a state-of-the-art facility at Keppel Digihub — will house SGX’s trading, market data and clearing infrastructure and offer a wide range of co-location facilities, introducing ultra-low latency trading and market data.
The Reach initiative also includes establishing a presence at key data centres in Chicago, London, New York and Tokyo. These SGX hubs will lower cross- border connectivity costs to SGX and facilitate participation in Asia’s growing markets by a larger number of global trading firms
The new initiative, dubbed Reach, will create the world’s fastest trading engine with the lowest trading latency, establish a world-class data centre for SGX and seamlessly connect trading communities in global financial hubs to Singapore. Reach will be rolled out from the first quarter of 2011.
“The resulting trading environment will be ideal for global investors, including sophisticated traders and participants new to the region. It will bring better liquidity and greater velocity to the market, enhancing SGX’s position as the Asian Gateway,” says SGX.
SGX’s new trading engine will be delivered through NASDAQ OMX’s Genium INET platform, Voltaire’s InfiniBand solution and HP’s technology. On May 7, SGX conducted a benchmark test with its partners at HP's Singapore Capacity Planning Centre and established an average order response time of 90 micro-seconds “door-to- door”.
The new SGX data centre — a state-of-the-art facility at Keppel Digihub — will house SGX’s trading, market data and clearing infrastructure and offer a wide range of co-location facilities, introducing ultra-low latency trading and market data.
The Reach initiative also includes establishing a presence at key data centres in Chicago, London, New York and Tokyo. These SGX hubs will lower cross- border connectivity costs to SGX and facilitate participation in Asia’s growing markets by a larger number of global trading firms
Singapore Exchange to offer world’s fastest trading
Singapore Exchange, operator of the city’s derivatives and securities exchange, will introduce the world’s fastest trading system by the first quarter of next year, its chief executive said.
“This will put us from the middle of the pack to the leader of the pack,” Magnus Bocker, chief executive officer of SGX, said at a media and analyst briefing today. “We hope to attract more high-frequency traders.”
The bourse will invest $250 million in the new system, which can execute transactions in 90 microseconds, the fastest in the world, according to a company statement. The current system takes between 3 and 5 milliseconds to execute trades, Bocker said at a media and analyst briefing today. Nasdaq OMX Group Inc., Bocker’s former employer, is supplying the new trading platform. A microsecond is one millionth of a second. A millisecond is one thousandth.
Exchanges worldwide have been building networks in response to competition from alternative trading systems such as dark pools and other off-exchange platforms. The growth of dark pools, which offer anonymous trading and don’t display public quotes, in Asia has lagged behind that of the U.S. and Europe as Asian regulators have been slow to accept such systems, John Feng, New York-based managing director of research company Greenwich Associates, said on March 9.
Rivals Upgrade Systems
High-frequency trading already accounted for about 30% of business on Singapore’s exchange, Bocker said. The current fastest system is run by Nasdaq and takes 177 microseconds to execute trades, according to Bob Caisley, head of technology at Singapore Exchange.
Hong Kong Exchanges & Clearing, operator of Asia’s third-biggest stock market, said on May 13 it will upgrade its trading system next year to boost speed and capture capital flows from China. The bourse will roll out a trading system by the end of 2011 that can process 15,000 transactions per second, up from 3,000 transactions per second.
ASX, which runs Australia’s largest stock exchange, said in February it will introduce a trading platform that will cut the average time to execute trades to 250 microseconds from three milliseconds. The Tokyo Stock Exchange introduced in January the Arrowhead trading system, which slashed to five milliseconds the time needed to process orders, from two to three seconds previously.
Chi-East, Asia’s first exchange-backed dark pool, will start operations by the second half of this year, Bocker said troday. Singapore Exchange has partnered with Chi-X Global Inc. to develop the platform.
Dark pools have been criticised by Ronald Arculli, chairman of the Hong Kong bourse, because they are not regulated and lack transparency
“This will put us from the middle of the pack to the leader of the pack,” Magnus Bocker, chief executive officer of SGX, said at a media and analyst briefing today. “We hope to attract more high-frequency traders.”
The bourse will invest $250 million in the new system, which can execute transactions in 90 microseconds, the fastest in the world, according to a company statement. The current system takes between 3 and 5 milliseconds to execute trades, Bocker said at a media and analyst briefing today. Nasdaq OMX Group Inc., Bocker’s former employer, is supplying the new trading platform. A microsecond is one millionth of a second. A millisecond is one thousandth.
Exchanges worldwide have been building networks in response to competition from alternative trading systems such as dark pools and other off-exchange platforms. The growth of dark pools, which offer anonymous trading and don’t display public quotes, in Asia has lagged behind that of the U.S. and Europe as Asian regulators have been slow to accept such systems, John Feng, New York-based managing director of research company Greenwich Associates, said on March 9.
Rivals Upgrade Systems
High-frequency trading already accounted for about 30% of business on Singapore’s exchange, Bocker said. The current fastest system is run by Nasdaq and takes 177 microseconds to execute trades, according to Bob Caisley, head of technology at Singapore Exchange.
Hong Kong Exchanges & Clearing, operator of Asia’s third-biggest stock market, said on May 13 it will upgrade its trading system next year to boost speed and capture capital flows from China. The bourse will roll out a trading system by the end of 2011 that can process 15,000 transactions per second, up from 3,000 transactions per second.
ASX, which runs Australia’s largest stock exchange, said in February it will introduce a trading platform that will cut the average time to execute trades to 250 microseconds from three milliseconds. The Tokyo Stock Exchange introduced in January the Arrowhead trading system, which slashed to five milliseconds the time needed to process orders, from two to three seconds previously.
Chi-East, Asia’s first exchange-backed dark pool, will start operations by the second half of this year, Bocker said troday. Singapore Exchange has partnered with Chi-X Global Inc. to develop the platform.
Dark pools have been criticised by Ronald Arculli, chairman of the Hong Kong bourse, because they are not regulated and lack transparency
SGX signs $110m IT infrastructure deal with HCL Technologies
Singapore Exchange (SGX) and HCL Technologies (HCL), a leading global IT services provider, today said they have signed a five-year IT infrastructure outsourcing agreement worth $110 million.
Under the deal, HCL will provide SGX with infrastructure support and management services including the exchange’s Reach initiative. The $250 million Reach initiative announced on 3 June aims to create the world’s fastest trading engine, establish a state-of-the-art data centre offering co-location facilities and seamlessly connect trading communities in global financial hubs to Singapore
Under the deal, HCL will provide SGX with infrastructure support and management services including the exchange’s Reach initiative. The $250 million Reach initiative announced on 3 June aims to create the world’s fastest trading engine, establish a state-of-the-art data centre offering co-location facilities and seamlessly connect trading communities in global financial hubs to Singapore
Saturday, June 12, 2010
CNBC.Com Market Outlook
Airtime: Sat. Jun. 12 2010 | 4:30 AM ET
CNBC's Courtney Reagan highlights the week's top business news stories, tells viewers what stocks the pros are recommending and looks ahead to next week's headlines.
Big Time Bulls
Airtime: Sat. Jun. 12 2010 | 7:48 AM ET
Discussing the risks in market, possibly holding back an economic recovery, with Fritz Meyer, Invesco and CNBC's Dennis Kneale
Friday, June 11, 2010
Sunning Tech
Entered trade at 0.215 after yesterday strong surged of > 7%. based on chart reading. The price shall meet some selling pressure at 0.24 the last congestion areas around Apr and May.
Once the price clear the 0.24 shall see immediately year high resistance at 0.285... Again based on TA Sunning Tech shall be able to break 0.285 and heading for a breakout runs.
vested interest
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