SINGAPORE (THE BUSINESS TIMES) – The Singapore Exchange (SGX) will be investing approximately US$200 million (S$270 million) as a limited partner in a private equity fund managed by 7Ridge, a specialised growth equity firm invested in transformative technologies.
In an announcement on Monday (Nov 1), SGX said that the fund will be acquiring Trading Technologies International, a global provider of high-performance professional trading software, infrastructure and data solutions for listed futures and options.
The investment, which is expected to close before the end of the year, will be funded with a mix of cash and borrowings and is not expected to materially impact SGX’s near-term earnings.
Trading Technologies has close to three decades of track record in derivatives trading software. Its privately-managed infrastructure across six continents and “state of the art” software-as-a-service (SaaS)-based platform offers secure market connectivity and superior performance from anywhere in the world, noted SGX.
SGX highlighted that with 7Ridge as its new strategic partner, Trading Technologies will be in a strong position to accelerate the expansion of its industry-leading technology platform.
It will continue to work closely with international exchanges, liquidity venues and market participants as a key provider of listed derivatives trading, connectivity services and infrastructure, SGX said.
SGX chief executive Loh Boon Chye noted that Trading Technologies has been a long-term partner of SGX, serving SGX’s global derivatives customers with its front-end workflow and connectivity solutions.
“We look forward to continued collaboration with Trading Technologies as it builds upon its strong position in the derivatives market, to deliver even more innovative and efficient solutions for the benefit of our ecosystem,” added Mr Loh.