NASDAQ OMX to deliver world's fastest trading platform to Singapore Exchange

NASDAQ OMX to deliver world's fastest trading platform to Singapore Exchange


The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that it will deliver an ultra low latency trading platform to Singapore Exchange (SGX). The new trading platform, named SGX Reach, will be powered by NASDAQ OMX's Genium INET, the fastest trading technology in the world. SGX's migration to the new trading platform will commence with cash equities in 2011.

The partnership between NASDAQ OMX and SGX dates back to the launch of a new derivatives trading platform in 2004. Since then the partnership has been extended to also include cash trading, derivatives clearing, commodities trading & clearing, and market data. The new Genium INET powered platform will enable significant latency and transaction capacity advantages and help strengthen SGX's position as the Gateway to Asia.

The Genium INET technology can deliver an average production roundtrip latency of sub-200 microseconds, with a throughput of over one million messages per second. Benchmark tests for SGX have shown an average latency below 90 microseconds.

Anna Ewing, Chief Information Officer at NASDAQ OMX, said, "SGX has truly earned its legacy as an innovator and early adopter of transformative exchange technology, and this is a significant milestone in our longstanding partnership. The commitment to migrate to our high performance Genium INET platform puts SGX at the technology forefront of exchanges, and sets the foundation for continued growth, both within and outside Asia."

Bob Caisley, Chief Information Officer at SGX, commented, "We are deploying the most advanced trading system in the world, thereby raising the bar for speed, capacity and scalability and providing our customers with a strong competitive advantage. The ultra low-latency and performance benefits of Genium INET will strengthen our position as the Asian Gateway and enable us to attract a wider range of market participants."