General Announcement::SGX in blockchain group advancing Singapore's vision of Smart Financial Centre

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Securities
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
18-Nov-2016 15:23:05
Status
New
Announcement Sub Title
SGX in blockchain group advancing Singapore's vision of Smart Financial Centre
Announcement Reference
SG161118OTHR5B12
Submitted By (Co./ Ind. Name)
Yee Kai Pin
Designation
Vice President
Effective Date and Time of the event
18/11/2016 00:00:00
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) is pleased to be part of an industry-wide collaboration that will harness blockchain technology to advance Singapore's vision of a Smart Financial Centre.

At this week's Singapore FinTech Festival, the Monetary Authority of Singapore (MAS) announced a partnership with the financial innovation group R3, and a consortium of financial institutions to collaborate on a proof-of-concept project using blockchain infrastructure for interbank payments. SGX is a member of the consortium and is the first Asian exchange in R3.

Kelvin Tan, Head of FinTech and Data at SGX, said, "Fintech has the power to transform the face of global financial services as immensely as the internet has changed media, gaming and entertainment. There are significant opportunities for SGX to harness fintech, including blockchain technology across our multi-asset offerings of equities, fixed income and derivatives and the full verticals from pre-trade, trading, post-trade clearing and settlement to depository."

The MAS last year laid out a vision of building a Smart Financial Centre, which will be an integral part of Singapore's Smart Nation ambition. Blockchain technology has the potential to make transactions and processes more robust, transparent and at a lower cost.

Attachments

20161118_SGX_in_blockchain_group_advancing_Singapore_vision_of_Smart_Financial_Centre.pdf
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