SGX goes with Millennium for post trade

Singapore Exchange (SGX) has gone live with Millennium PostTrade to support its central depository (CDP) business.

Built on the real time clearing platform that was initially set up in Europe in 2013, the platform will enable CDP to adopt global market practices and provide real time processing in a bid to improve functionality and performance.

Using the software will also allow SGX to work with brokers and participants in an attempt to move away from its previous proprietary broker back office system.

“With this implementation, our brokers’ back-office systems have been enhanced from indirect to direct communication with SGX for all post-trade processing.” said Nico Torchetti, senior vice president and head of market services, SGX.

“The on-going transformation of SGX’s post trade environment will increasingly enable us to deliver greater levels of standardisation and efficiencies for our customers,” he added.

Mack Gill, CEO, MillenniumIT said: “We are delighted that SGX has gone live with Millennium PostTrade and we look forward to continuing our close working relationship to further deliver leading edge technology and improved functionally to support the on-going transformation of SGX’s clearing, settlement and depository business.”