FIA Tech’s Trade Data Network (TDN) product has been connected to Singapore Exchange (SGX).
The futures fintech company plans to roll out TDN access to all SGX members in Q4 2023.
FIA Tech is jointly owned by 11 clearing firms and the Futures Industry Association (FIA). TDN is the firm’s market infrastructure and shared trading information ledger, which includes 16 banks and brokers as well as 50 investment managers and hedge funds.
The company says the integration of TDN into SGX will give the exchange’s member firms greater transparency into the trade give-up and take-in process.
The service is also designed to provide resiliency services by securely replicating all trading activity and messages from SGX as a form of risk management and recovery in case of systemic outages.
SGX is the third exchange to connect to TDN, following CME Group and Eurex.
Alison King, head of trading and clearing services for equities at SGX Group, comments: “We are pleased to be part of the Trade Data Network to enhance connectivity for our members. As Asia’s leading derivatives marketplace across multiple asset classes, trust and efficiency are always top-of-mind, and we look forward to broadening our work with FIA Tech.”
Nick Solinger, president and CEO of FIA Tech, adds: “This is a significant milestone for TDN and, working with our clearing firms and connected exchanges like SGX, we hope to provide increased operational resilience and efficiency in the exchange-traded derivatives industry.”
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