
SGX to unveil first Asian bond trading platform by 2015
It will initially trade Asian corporate bonds.
Singapore Exchange (SGX) today revealed its intention to launch a bond trading platform by mid-2015. The platform will be the first of its kind focused on Asian bonds.
It will initially trade Asian corporate bonds in G3 currencies, with Asian local currencies to follow. To drive this initiative SGX has formed a new subsidiary, SGX Bond Trading.
The development of this platform will be executed in close consultation with the industry, and the platform aims to become an Asian Liquidity Centre for both high-yield and investment-grade corporate bonds.
SGX held an inaugural Steering Committee meeting with senior representatives of 32 leading Asian fixed income dealers and investors yesterday and will continue to do this at periodic intervals leading to the launch of the platform.
The Steering Committee will provide strategic direction and feedback to SGX on the development and refinement of services provided by SGX Bond Trading to address the needs of Asian bond market participants.
SGX has signed a long-term contract with electronic trading solutions provider TradingScreen as the technology platform provider and will work with the industry to develop end-to-end automation to make trading in these instruments more efficient.