SGX Signs IT Infrastructure Agreement with HCL Technologies
Singapore Exchange (SGX) and HCL Technologies (HCL), a leading global IT services provider, today said they have signed a five-year IT infrastructure outsourcing agreement worth S$110 million.
Under the agreement, HCL will provide SGX with infrastructure support and management services including the exchange’s Reach initiative. The S$250 million Reach initiative announced on 3 June aims to create the world’s fastest trading engine, establish a state-of-the-art data centre offering co-location facilities and seamlessly connect trading communities in global financial hubs to Singapore.
HCL’s solution architecture for SGX is powered by a dynamic two-pronged strategy comprising ‘Change the Business’ and ‘Run the Business’ services. Mr. Bob Caisley, Executive Vice President and Chief Information Officer at SGXsaid, “HCL is an important partner for SGX in enabling the Reach initiative to provide customers with the fastest access to Asia, and in enhancing the efficiency and effectiveness of our operations on a daily basis. The implementation of Reach will ensure that SGX’s position as a leading listing venue for international issuers and the unparalleled trading venue for Asian products is fortified and future-proofed.”
“This agreement will leverage on HCL’s transformational solutions. With this agreement in place, our 700 plus strong team at HCL’s Regional Headquarters and delivery centre, we plan to further consolidate our position here in Singapore to develop and focus extensively on markets in the Asia Pacific region,” said Mr. Virender Aggarwal, Executive Vice President for APAC & MEA, HCL Technologies.
Commenting on the engagement, Mr. Kiran Bhagwanani, Senior Vice President and Worldwide Head of System Integration Sales, Infrastructure Services Division, HCL Technologies, said “It is our privilege to be associated with SGX as it continues to improve its customer offerings. Our aim is to enable transformation of data centre and network operations at SGX to bring in enhanced efficiency and clear business benefits. We have a lineage of long-lasting successful engagements of similar nature that involve critical service propositions. We are equally committed to ensuring superior performance year-on-year for SGX and its members, having been entrusted with the responsibility of managing its large and complex infrastructure.”