Singapore Exchange (SGX) has unveiled plans to launch a bond trading platform by mid-2015 to facilitate the buying and selling of bonds issued by companies in the Asian region.
To launch the platform, SGX has established a new subsidiary, SGX Bond Trading.
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The platform will initially trade Asian corporate bonds in G3 currencies and will later accommodate other Asian local currencies.
SGX also signed a long-term agreement appointing electronic trading solutions provider TradingScreen as its technology platform provider.
Magnus Bocker, CEO of SGX, said: "SGX believes that in the long term, the Asian fixed income markets are poised for strong growth, given the region s growing infrastructure needs and investor demand for steady, long-term returns. SGX is pleased to work closely with the Asian fixed income community to build and operate an electronic OTC liquidity venue dedicated to Asian bonds to facilitate this growth."
Muthukrishnan Ramaswami, president of SGX, said: "Our goal is better fixed income markets for Asian market participants and we will ensure that this venue offers many different trading approaches which are the characteristic of OTC markets. Our aim is to help both buy and sell side participants with their needs."
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