SGX launches academy for traders

Singapore Exchange Limited and the Association of Financial and Commodity Traders launched an algorithmic trading initiative to upgrade professional traders’ skills last Friday.

The programme, called the SGX Academy Algorithmic Trading Initiative, is supported by the financial training scheme administered by the Monetary Authority of Singapore and 60 professional trading members of SGX will participate in its first run on 12 December 2009. SGX intends to roll out the programme later to sophisticated retail investors who are keen to be involved in high-velocity trading in the near future.

Algorithmic trading, also known as high-speed automated trading, allows financial institutions and professional traders to execute complex trading strategies and manage risks involving multiple orders in a split second. Such high-velocity trading is becoming increasingly common in all advanced capital markets. Building a strong base of Singapore traders with advanced algorithmic trading capabilities will promote greater capital market depth and product innovation.

The initiative will feature intensive, hands-on workshops with expert-level trainers using a live training facility at SGX.

“The SGX Academy Algorithmic Trading Workshop is part of a concerted effort to critically raise the standards of our member professional traders. The rules-of-engagement in professional, intra-second trading change frequently, and we want to work with our members to equip them with the tools to adapt and compete. This workshop is also an initiative in line with the Monetary Authority of Singapore’s focus on enhancing the skills and competencies of financial sector professionals,” said Mr Andrew Ler, Senior Vice President & Head, Private Investors of SGX.

Details of the professional courses by SGX Academy can be found at the academy's website.