SGX Signs TradingScreen to Launch Asian Bond-Trading Platform
To drive this initiative, SGX has formed a new subsidiary, SGX Bond Trading
SGX has partnered with electronic trading solutions vendor TradingScreen to develop the technology and provide end-to-end automation. The platform aims to become a liquidity center in Asia for both high-yield and investment-grade corporate bonds.
"SGX believes that in the long term, the Asian fixed-income markets are poised for strong growth, given the region's growing infrastructure needs and investor demand for steady, long-term returns," says Magnus Bocker, the CEO of SGX.
The platform will offer trading of Asian corporate bonds in US dollars, euros, and Japanese yen, extending to Asian local currencies later in the year.
"SGX new trading venue has the potential to transform the Asian bond secondary markets for the benefit of its participants, and reinforces Singapore's position as a leader in financial-market innovation," says Eric Lafon, managing director of foreign exchange, rates and credit distribution at UBS.
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