Singapore Exchange announces new trading engine

Singapore Exchange on Thursday announced SGD 250 million ($178.35 million) plan to strengthen Singapore's position as the best market for accessing Asia.

The new initiative-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, said SGX. 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, it said.

The Reach initiative also includes establishing a presence at key data centres in Chicago, London, New York and Tokyo. These SGX hubs will radically lower cross-border connectivity costs to SGX and facilitate participation in Asia's growing markets by a larger number of global trading firms.