Singapore Exchange (SGX) has chosen MillenniumIT, the London Stock Exchange’s proprietary technology business, to power the bourse’s post-trade operations.
SGX will install Millennium PostTradeTM, MillenniumIT’s multi-asset and multi-currency clearing, settlement, risk and central depository solution for Singapore’s securities market. Millennium PostTrade is based on MillenniumIT’s own patented ‘BID’ technology.
Mack Gill, CEO of MillenniumIT, says: “This represents a significant partnership for us and the first contract win for the full Millennium PostTrade solution.”
Xavier Rolet, CEO of LSEG, adds: “MillenniumIT has shown again that its highly scalable, low latency platform appeals to capital markets providers globally. SGX is one of the world’s leading exchanges and joins over 30 organizations around the world which are now being powered by MillenniumIT’s technology.”
Magnus Bocker, CEO of Singapore Exchange says: “Our customers can expect improved access, efficiency and flexibility in the types of products and services we will offer once the system is in place. We look to London Stock Exchange Group for its support as we introduce this new technology to our market, the first implementation of such scale for Millennium PostTrade.”
SGX to Implement MillenniumIT Post-trade Technology
Singapore Exchange (SGX) has chosen MillenniumIT, the London Stock Exchange’s proprietary technology business, to power the bourse's post-trade operations.