General Announcement::News Release: SGX sees opportunities in next-generation connectivity solutions that enhance access

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
01-Nov-2021 07:47:13
Status
New
Announcement Sub Title
News Release: SGX sees opportunities in next-generation connectivity solutions that enhance access
Announcement Reference
SG211101OTHRJSSP
Submitted By (Co./ Ind. Name)
Jo-Ann
Designation
Senior Associate, Marketing & Communications
Description (Please provide a detailed description of the event in the box below)
- Invests approximately US$200 million as one of the Limited Partners in a closed-end fund managed by 7RIDGE, that is acquiring global professional trading software provider Trading Technologies
- Trading Technologies expected to accelerate plans to provide seamless and efficient access to the world's major international exchanges and liquidity venues

Singapore Exchange (SGX), Asia's leading and most liquid international derivatives exchange, continues to expand its network of global partnerships with a strategic investment that seeks to strengthen investors' participation in the derivatives marketplace across major exchanges globally.

SGX will be investing approximately US$200 million as a Limited Partner (LP) in a private equity fund managed by 7RIDGE, a specialised growth equity firm invested in transformative technologies. The fund will be acquiring Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, infrastructure and data solutions for listed futures and options. With close to three decades of track record in derivatives trading software, TT's privately managed infrastructure across six continents and state of the art Software-as-a-Service (SaaS)-based platform offer secure market connectivity and superior performance from anywhere in the world.

With 7RIDGE as its new strategic partner, TT will be in a strong position to accelerate the expansion of its industry-leading technology platform. It will continue to work closely with international exchanges, liquidity venues and market participants as a key provider of listed derivatives trading, connectivity services and infrastructure.

Loh Boon Chye, Chief Executive Officer of SGX, said, "Together with other independent software vendors, Trading Technologies has been a long-term partner of SGX, serving our global derivatives customers with its front-end workflow and connectivity solutions. We look forward to continued collaboration with TT as it builds upon its strong position in the derivatives market, to deliver even more innovative and efficient solutions for the benefit of our ecosystem."

The investment, which is expected to close before the end of the year, will be funded with a mix of cash and borrowings and is not expected to materially impact SGX's near-term earnings.

Attachments

20211101 SGX sees opportunities in next-generation connectivity solutions that enhance access into derivative markets.pdf
Total size =557K