Ffastfill Connects to SMX
Singapore Mercantile Exchange (“SMX” or the “Exchange”), a leading Asian multi-product commodity derivatives Exchange, today announced that it has appointed FFastFill plc, the leading provider of Software as a Service (“SaaS”) to the global derivatives community, to provide connectivity to the Exchange when SMX goes live this year in August 2010.
Conformance testing has been successfully completed and London Stock Exchange-quoted FFastFill will now offer full connectivity to the SMX portal. FFastFill joins the growing list of ISVs signing up to offer their clients complete and secure access to the comprehensive suite of derivatives to be traded on SMX.
Thomas McMahon, SMX CEO, said “SMX is pleased to announce the development and testing of FFastfill to our Exchange. When SMX started looking at the Front End Platforms to connect to the exchange it was apparent that FFastfill had to be included into that mix given its broad coverage of both the metals and other commodity futures markets which gave us an extended reach into both the clearing members and end users of the contracts we are going to list.”
Hamish Purdey, FFastFill CEO said “FFastFill is pleased to have been certified for SMX and to be a key partner for their operational start-up in the near future. FFastFill will offer SMX access to existing and new customers from commencement of the SMX market operations through our advanced application services. FFastFill has for some time been building its global network with additional facilities in Asia and this certification endorses our expansion policy in the region.”
FFastFill is a leading provider of Application Services for trading and post trade services in electronic markets. Its services and software provide market expertise and knowledge in exchange-traded derivative instruments. Ffastfill’s multi-asset clearing and trading functionality also satisfies the equity, fixed income, foreign exchange, CFD and OTC needs of many of their clients.
SMX has received in-principle approval from the Monetary Authority of Singapore to operate Singapore’s first Asian multi-product commodity derivatives exchange. SMX announced earlier that the exchange will go live in August 2010 on its state-of-the-art electronic trading platform. The first phase of product launches will include a gold futures contract with physical delivery in high-security vaults in Singapore, West Texas Intermediate (WTI) Crude Oil, and Brent-Euro Crude Oil amongst the others, which will be announced soon.