Singapore Exchange kicks off London operations

Move follows SGX's investment of $250mln in Reach initiative intended to create world's fastest trading engine.

Singapore Exchange (SGX) on Tuesday said it has established a London office to better serve its growing number of European-based customers.

The London expansion follows SGX's 3 June commitment to invest $250 million in its Reach initiative. Reach will create the world's fastest trading engine, establish a world-class data centre and seamlessly connect trading communities in Chicago, New York, Tokyo and London to Singapore. These four hubs will radically lower cross-border connectivity costs and make it even more attractive to be a member of SGX, according to an SGX report.

"SGX's presence in London marks a strong commitment to our customers in meeting and responding to their needs. Building connectivity and enhancing market accessibility will strengthen our position as the market of choice for investors wanting to participate in Asia's rapidly-growing economies, and for issuers seeking to access global capital markets," said Mr Magnus Bocker, Chief Executive Officer of SGX.

The SGX London office is headed by Chief Representative, Mr David Battle. He said, "Many of our customers are in Europe and the US, and a London base enables SGX to reach out to them and prospective clients as we roll out our Reach initiative and facilitate participation in Asia’s growing markets by a larger number of trading firms."