First Derivatives Delivers Superior Real-Time Market Reporting System to SGX
First Derivatives, a leading provider of software and consulting services to the capital markets industry, announced November 2 that the Company had delivered to SGX a bespoke solution for real-time trading system reporting – Project MARS.
This marks the Company’s second successful solution to SGX following the contract announced last year, whereby the Company would develop a platform for internal real-time monitoring of the performance of market makers.
Project MARS captures every message in the SGX trading engines, and provides real-time and historical reporting of SGX trading engine data, making the information more accessible to SGX users. All data is also persisted to a historical database.
MARS went live on Aug 15th, when SGX rolled out its Reach trading engine for its securities market. Reach is the world’s fastest trading engine with ultra-low latency and significantly higher capacity. MARS for Derivatives Markets is to follow.
The project was delivered and implemented by First Derivatives, together with its Singapore sales partner, BrokerEdge Systems Advisors Pte Ltd.
The contract represents another important milestone in First Derivatives’ ambitions to expand its operations into the Asian market and enhances our expertise and capability in servicing the exchange market.
Brian Conlon, CEO of First Derivatives commented: “I am very pleased that we have successfully delivered this exciting ground breaking initiative to SGX. Reach is the world’s fastest trading engine with ultra-low latency and First Derivatives technology is providing intraday monitoring of trading activities and historical transparency for the exchange”