Singapore Exchange (SGX) Goes Live with Millennium Posttrade
24th February 2016
- 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.”