Singapore Exchange Picks TradingScreen to Build OTC Asian Bonds Trading Platform

As the Asian financial center’s exchange SGX is aiming to ramp up its corporate bonds trading unit, the exchange has announced the selection of TradingScreen to deliver a platform solution to the growing segment.

Since the dawn of the global financial crisis, Asian companies have increased their use of bonds to cover their funding needs, and added to existing channels such as bank borrowing. The booming issuance, which has increased the market by more than 400% since 2008, has benefited from favorable liquidity conditions.

After recently announcing their first over-the-counter (OTC) liquidity venue dedicated to Asian Bonds (“SGX BT”), the Singapore Exchange (SGX) has picked TradingScreen to build its platform. TradingScreen has already been supplying its technology in Europe, where it operates the Galaxy bond trading platform as a Multilateral Trading Facility (MTF).

While the bond markets of Hong Kong, Singapore and Korea are comparatively advanced and liquid, markets in China, India, Indonesia and Thailand are still at an early stage of development. The Singapore Exchange is aiming to add a new platform in order to boost its offering.

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Forex Magnates - Victor Golovtchenko - December 2, 2014