Singapore Exchange launches SGX Bond Pro
Xinhua, December 10, 2015 Adjust font size:
Singapore Exchange (SGX) has launched SGX Bond Pro, an Over-The-Counter (OTC) trading venue dedicated to Asian bonds, announced SGX in a press release on Thursday.
Established under SGX's subsidiary SGX Bond Trading, a licensed Recognized Market Operator, SGX Bond Pro connects buyers and sellers of Asian bonds, providing them with multiple trading protocols that cater to their liquidity needs.
The trading protocols were developed in consultation with the industry to facilitate how participants, including accredited investors such as global asset managers, private and investment banks, want to access liquidity, said SGX.
SGX Bond Pro aims to address the institutional liquidity challenge in the secondary Asian bond market through features that re-aggregate liquidity, provide enhanced protections for institutional investors and encourage larger trade sizes.
SGX Bond Pro began trading Asian corporate bonds in G3 currencies, with Asian local currencies to follow. UBS was announced as the General Counterparty for SGX Bond Pro in October 2015.
CEO of SGX Loh Boon Chye said that the launch of SGX Bond Pro is an important step in diversifying SGX's business mix.
"We are committed to providing liquidity solutions across our markets and we look forward to seeing the benefits of this pioneering OTC trading venue in the Asian bond market." said Loh. Enditem