Singapore on My Mind
Having recently finished my feature on the Singapore Exchange's soon-to-launch high-end matching engine, SGX Reach, I'm in a Singapore state of mind. I’ve never been there, but I hear it's lovely.
The general consensus from the dozen trading firms, vendors and analysts I’ve spoken to is that this is a long-term play for the SGX. While there will be a media push to look for immediate growth, this is simply a starting point. For Singapore, and Asia in general, it is a major step toward becoming something more than an emerging market.
Now the imperative falls to the trading firms, says Peter Tierney, senior vice president of NYSE Technologies. As a result of this upgrade, trading firms will have to examine their current infrastructure requirements to match the faster trading engine, especially if they are latency-sensitive, he says.
He adds that he expects firms in the region to take a "gradual approach to reviewing their technological requirements, as a faster trading engine is only one part of the entire chain."
Singapore is ripe for growth among the hedge fund community. A recent Capgemini and Merrill Lynch report on global wealth found that Singapore has about as many millionaires as the whole of Europe; thus, it's an untapped, enticing market for those looking for new investment. Furthermore, the Monetary Authority of Singapore eased restrictions for hedge fund startups in the region.
New hedge funds mean new opportunities for vendors to grow their footprints. Even the major hedge funds and asset managers in the region would be wise to upgrade their infrastructure in preparation for increased competition.
A little more than a week from now, on August 15, we will get the first public look at SGX Reach as it goes live. This will definitely be one of the more interesting developments that we will be keeping an eye on over the next year.
I'm hoping for a successful launch ... because then maybe I can talk my boss into flying me out there to cover the market in person.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Nasdaq reshuffles tech divisions post-Adenza
Adenza is now fully integrated into the exchange operator’s ecosystem, bringing opportunities for new business and a fresh perspective on how fintech fits into its strategy.
Liquidnet sees electronic future for gray bond trading
TP Icap’s gray market bond trading unit has more than doubled transactions in the first quarter of 2024.
This Week: HKEx's new derivatives platform; GoldenSource; Quonian-SimCorp, and more
A summary of some of the latest financial technology news.
Chris Edmonds takes the reins at ICE Fixed Income and Data Services
Edmonds is now leading ICE’s fixed income and data business as the rush to provide better data and analytics in fixed income builds.
Systematic tools gain favor in fixed income
Automation is enabling systematic strategies in fixed income that were previously reserved for equities trading. The tech gap between the two may be closing, but differences remain.
Waters Wrap: Examining the changing EMS landscape
After LSEG’s decision to sunset Redi, Anthony examines what might lie ahead for the EMS space.
This Week: Clear Street, AXA/AWS, TD Bank/Google Cloud and more
A summary of the latest financial technology news.
LSEG to sunset Redi EMS in favor of Tora
Sources say competitors will look to seize on the decision to win over Redi’s sizeable US client base.
Most read
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services
- Deutsche Börse democratizes data with Marketplace offering
- Waters Wavelength Podcast: Broadridge’s Joseph Lo on GPTs