Singapore Exchange (SGX) goes live with Millennium PostTrade
- Millennium PostTrade™ initially supports SGX’s Securities Clearing business
- Technology provides real time straight-through-processing to improve functionality and performance
- MillenniumIT works with over 40 organisations and exchanges, in line with LSEG’s open access principles
MillenniumIT, London Stock Exchange Group’s proprietary technology business, today announces that it has successfully implemented its Millennium PostTrade™ platform to support SGX’s Central Depository Pte. Limited’s (CDP) business.
Millennium PostTrade™, a highly integrated, real time clearing, settlement and depository platform will initially enhance SGX’s securities clearing and connectivity capabilities and provide a solid technology platform to replace CDP’s settlement and depository systems. With the clearing system and the Application Programming Interface (API) now live, SGX will work with their broker dealers and participants to migrate away from SGX’s proprietary broker back office system. Millennium PostTrade will enable CDP to adopt global market practices, real time straight-through-processing and industry messaging standards (including FIXML and ISO20022) to deliver improved functionality, performance, flexibility and scalability. Millennium PostTrade is fully SWIFT compliant and builds on the real time clearing platform that MillenniumIT first introduced in Europe in 2013.
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 functionality to support the on-going transformation of SGX’s clearing, settlement and depository business. We are committed to leveraging new technology to drive a new real-time clearing paradigm across the global post trade industry.”
Nico Torchetti, SVP & Head of Market Services, Singapore Exchange said:
“With this implementation, our brokers’ back-office systems have been enhanced from indirect to direct communication with SGX for all post-trade processing. The ongoing transformation of SGX’s post trade environment will increasingly enable us to deliver greater levels of standardisation and efficiencies for our customers.”
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For further information:
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Notes to editors:
MillenniumIT is the power behind many of the world’s financial markets. MillenniumIT pre- to post-trade, multi-asset, ultra-low latency, agile technology infrastructure supports the trade lifecycle for more than 40 financial institutions and financial services firms around the world.
The MillenniumIT solution suite includes ultra-low latency trading platform Millennium Exchange™, the Millennium SOR™ smart order router; Millennium MarketData™, Millennium Surveillance™, and the integrated clearing, settlement and depository solution Millennium PostTrade™. Underpinning all of these solutions and providing the core integration layer is the Millennium Advanced Platform™ (MAP™).
Clients include Borsa Italiana, HKEx, Johannesburg Stock Exchange, London Metal Exchange, London Stock Exchange Group, Singapore Exchange, Toronto Stock Exchange, Tullett Prebon and Turquoise.
Founded in 1996 and head-quartered in Sri Lanka, MillenniumIT is a fully-owned subsidiary of London Stock Exchange Group.
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is an international markets infrastructure business. Its diversified global business focuses on capital formation, intellectual property and risk and balance sheet management. LSEG operates an open access model, offering choice and partnership to customers across all of its businesses. The Group can trace its history back to 1698.
The Group operates a broad range of international equity, ETF, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS (Europe's leading fixed income market); and Turquoise (a pan-European equities MTF). Through its platforms, LSEG offers market participants, including retail investors, institutions and SMEs unrivalled access to Europe’s capital markets. The Group also plays a vital economic and social role, enabling companies to access funds for growth and development.
Through FTSE Russell, the Group is a global leader in financial indexing, benchmarking and analytic services with approximately $10 trillion benchmarked to its indexes. The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, and RNS.
Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of LCH.Clearnet Group, a multi-asset global CCP operator, LSEG owns CC&G, the Italian clearing house; Monte Titoli, a leading European custody and settlement business; and globeSettle, the Group’s CSD based in Luxembourg.
LSEG is a leading developer and operator of high performance technology solutions, including trading, market surveillance and post trade systems for over 40 organisations and exchanges, including the Group’s own markets. Additional services include network connectivity, hosting and quality assurance testing. MillenniumIT, GATElab and Exactpro are among the Group’s technology companies.
Headquartered in the United Kingdom, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 4,700 people.
Further information on London Stock Exchange Group can be found at www.lseg.com