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TT Gateway and the Exchange

Exchange Background

The Singapore Exchange Limited is Asia Pacific’s first demutualised and 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, an electronic trading platform. Access is given through exchange-approved Order Management Systems developed by either exchange members or Independent Software Vendors. For reporting wholesale trades, SGX offers the Titan OTC interface, which uses the Transport Layer Security (TLS) protocol to connect to the interface and provide a secure connection between the SGX_OTC Gateway and the exchange.

Note

You can find the preceding exchange information on SGX’s website.

Time and Time Zone

Set the machine that hosts the SGX_OTC Gateway to run in (GMT+8:00) Singapore Standard Time zone and time. You must turn-off the Automatically adjust clock for daylight saving changes setting.

Warning

Ensure the time zone is set correctly. Failure to do so will result in an incorrect fill transaction time.

Required Connection Information

Users must work with the exchange to acquire the following connection information:

  • User IDs
  • Passwords
  • Connection IP address and port

Exchange API Interface

For reporting OTC trades, SGX uses the Titan OTC FIX API interface for connectivity.

Matching

The SGX matching engine is located in Singapore.

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.

Note

Pro-Rata Order and Matching only applies to EY products.

For more detailed information on price discovery, see the SGX website athttp://www.sgx.com.

For details about what user and account information is required for reporting SGX OTC trades, refer to SGX TRADE REPORTING: ONE SIDED TRADES.

Available Products

SGX offers the following types of products:

  • Bonds, Debentures and Loan Stocks
  • Business Trusts
  • Equities
  • Exchange Traded Funds (ETFs)
  • Global Depository Receipts (GDRs)
  • Infrastructure Funds
  • Real Estate Investment Trusts (REITs)
  • Warrants
  • Short-Term Interest Rate Futures and Options on Futures
  • Long-Term Interest Rate Futures and Options on Futures
  • Equity Index Futures and Options on Futures
  • Structured Warrants*
  • Certificates
Notes

The exchange may change its listed products at any time. Contact SGX or visit their website at http://www.sgx.com for currently listed products. *Also, Structured Warrants are not supported by the SGX_OTC Gateway.

Asset Classes

SGX offers products in the following classes:

  • Futures
  • Options
  • Spreads
  • Strategies

Trading Hours

SGX offers different trading hours for their securities and derivatives markets.

SGX trading hours for derivatives vary by contract. The table below shows the earliest start and latest end times for each session.

Trading Hours for Derivatives

Session

Hours

SGX T Session

7:40am-7:05pm

SGX T + 1 Session

2:45am-1:00am (the following day)

Note

The times above represent the earliest and latest hours available for trading derivatives on SGX.

For a list of the exact times that each contract trades, refer to the trading hours listed on the SGX website.

Supported Exchange Functionality

The SGX_OTC Gateway supports all products available for trading through SGX derivatives trading platform - DT_QUEST.

Unsupported Exchange Functionality

The SGX_OTC Gateway does not support market maker functionality, or Structured Warrants products.