SGX Overview

The Singapore Exchange Limited is Asia Pacific’s first integrated securities and derivatives exchange. SGX was formed on December 1st, 1999, with the merger of Stock Exchange of Singapore (SES) and the Singapore International Monetary Exchange (SIMEX). In November of 2000, SGX was the first Asian Pacific exchange to be listed via a public offer and private placement.

SGX offers access via QUEST, its electronic trading platform. Access is given through exchange-approved Order Management Systems developed by either exchange members or Independent Software Vendors.

SGX Exchange API

TT® supports the following:

  • Prices: Titan ITCH / OM
  • Orders: OMAPI

Matching Engine

The SGX matching engine is located in Singapore.

Matching Algorithms

Prices at SGX are determined through Price/Time Priority. Alternatively, prices may also be determined using alternative algorithms: Price Point Maker (PPM), Market Maker (MM), and Pro-Rata Order and Matching. Pro-Rata Order and Matching only applies to EY products.

SGX Self Trade Prevention support

In addition to the exchange's participant level Self Trade Prevention functionality, TT supports the exchange's Self Trade Prevention key functionality. When Self Trade Prevention is enabled at the exchange and a Self Trade Prevention key is provided, users with the same participant ID and key will not be able to submit self matching orders.

To enable Self Trade Prevention, you must contact the exchange and request that they enable the feature for your participant ID. If you want to implement Self Trade Prevention at the user level in your firm, also request unique Self Trade Prevention keys. For either implementation, you also need to request that the exchange either cancels the passive (working) order or the aggressive order when there are orders with matching participant IDs and keys.

Note: When Self Trade Prevention is enabled, users with the same participant ID are still allowed to self match as long as their assigned Self Trade Prevention keys are different. If user-level Self Trade Prevention is implemented by your firm but no keys are assigned, the exchange still allows self trading for users with the same Participant ID.

In Setup, the Self Trade Prevention key is set per account. Refer to Adding an SGX Account for more details.

Connectivity Options

The TT® platform provides connectivity to the exchange, so you do not have to contact the exchange regarding connectivity options. Refer to TT Access for more details about your connectivity options for connecting to TT.