SGX and AFACT Ramp Up Algorithmic Trading Capabilities of Professional Traders
Singapore Exchange Limited (SGX) and the Association of Financial and Commodity Traders (Singapore) (AFACT) today jointly launched the SGX Academy Algorithmic Trading Initiative to upgrade professional traders’ algorithmic trading capabilities. The initiative will feature intensive, hands-on workshops with expert-level trainers using a live training facility at SGX.
The programme is supported by the financial training scheme administered by the Monetary Authority of Singapore and 60 professional trading members of SGX will participate in its first run on 12 December 2009. SGX intends to roll out the programme later to sophisticated retail investors who are keen to be involved in high-velocity trading in the near future. RTS Realtime Systems will be the vendor partner in this program supporting the training and infrastructure setup.
Algorithmic trading, also known as high-speed automated trading, allows financial institutions and professional traders to execute complex trading strategies and manage risks involving multiple orders in a split second. Such high-velocity trading is becoming increasingly common in all advanced capital markets. As such, the building of a strong base of Singapore traders with advanced algorithmic trading capabilities will ensure greater capital market depth and product innovation, reinforcing Singapore’s position as a centre for professional trading innovation and thought leadership.
During the SGX Academy Algorithmic Trading Workshop, participants will first participate in an intensive one-day algorithmic trading theory session followed by three days of hands-on algorithm construction and deployment using ‘live’ market data, customized training terminals and trading platforms.
“The SGX Academy Algorithmic Trading Workshop is part of a concerted effort to critically raise the standards of our member professional traders. The rules-of-engagement in professional, intra-second trading change frequently, and we want to work with our members to equip them with the tools to adapt and compete. This workshop is also an initiative in line with the Monetary Authority of Singapore’s focus on enhancing the skills and competencies of financial sector professionals,” said Mr Andrew Ler, Senior Vice President & Head, Private Investors of SGX.
“The joint efforts of AFACT, SGX and RTS have brought about this important Algorithmic Trading training session for the professional traders. AFACT appreciates the support from SGX in this initiative as a venture into the automated high-velocity trading world will be an important development for the professional trading community.” said Mr Ng Tee How, President of AFACT.