Singapore Exchange to upgrade derivatives trading and clearing platforms

SINGAPORE Exchange (SGX) said on Monday it will upgrade its derivatives trading and clearing platforms.

The upgraded platforms, SGX TITAN, will strengthen SGX's risk controls and system safeguards to help market participants manage their trading and clearing positions on a 24-hour basis, SGX said. They are expected to be rolled out around the end of calendar year 2016.

SGX will also work with Nasdaq for a further six years to support and maintain the Nasdaq systems in its securities and derivatives markets.

Magnus Bocker, CEO, SGX, said in a media statement: "We see strong and continued demand for SGX's Asian derivatives, and aim to provide ever better solutions to fulfil these unique and evolving needs."

SGX has been under fire for two major market disruptions - within a space of a month between them. In December, it delayed the stock market's opening to 12.30pm following a software defect that affected post-trade processing. A month earlier, the stock and derivatives markets were shut down in the afternoon following a failure in the power management system.