ASEAN KEY DESTINATIONS
Singapore Exchange to boast world's fastest trading engine
The Singapore Exchange (SGX), Asia's second-largest listed bourse operator, said today it will launch the world's fastest trading engine, called SGX Reach, on August 15 as it tries to compete with rivals.
SGX said last year that it would invest $250 million for the new trading infrastructure that will enable overseas customers to trade through the bourse at a lower cost.
'In addition to its benchmarked order response time of 90 microseconds 'door-to-door', Reach can handle 1 million order book changes per second per partition, 100 times the capacity of the existing engine,' SGX said in a statement.
SGX on Tuesday reported a 14 percent rise in its October-December profit, missing expectations, and said it was on track to complete a $10 billion takeover of Australian bourse operator ASX.
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