LSEG Technology has implemented Settlement and Central Securities Depository functionality for Singapore Exchange (SGX).
The process was a whole market implementation, involving brokers, custodian banks, settlement banks, registrars and retail investors from December 10.
It provides SGX with a fully-integrated and complementary set of post trade solutions built upon the same technical and hardware framework as the Clearing (Central Counterpart) module, implemented at SGX in early 2017.
The delivery enables SGX and the market participants to align to global market practices, messaging standardisation and the introduction of T+2 into the Singapore market.
Executive Vice President, Head of Technology, Tinku Gupta said, “SGX’s adoption of the new post trade system which LSEG Technology supported, provides for a more efficient and effective clearing, settlement and depository environment. We will build new and emerging services on the platform enabling SGX and our Members to enhance services for the market.”
CIO, LSEG Technology, Ann Neidenbach said, “LSEG Technology is delighted to have developed a close working relationship with SGX to implement this complete end-to-end post-trade solution.
This is a milestone in which the industry solution is set to meet the broad and diverse needs of the post-trade community. LSEG Technology’s Millennium Post Trade solution, delivers true benefit for our customers by improving operational efficiency and reducing the cost of ownership.”
LSEG Technology delivers robust, scalable, high-performance technology including broker, exchange, market data, risk management, surveillance, clearing and settlement products to customers around the world.
LSEG Technology’s trading and post-trade products, empowered with key patented technology, helps improve operational efficiencies for over 40 financial market infrastructure and financial services firms, which include London Stock Exchange Group markets (London Stock Exchange, Borsa Italiana, Turquoise), HKEX, Johannesburg Stock Exchange, Singapore Exchange, Toronto Stock Exchange, TP-ICAP and other markets worldwide.