The Trade Data Network is an initiative to provide a market infrastructure and shared ledger of trading information to address the fragmentation and lack of transparency in exchange-traded derivatives (ETD) post-trade processing. The TDN initiative currently includes 16 banks/brokers and 50 investment managers and hedge funds with combined assets under management of over $37 trillion.

From Q4, SGX member firms that are subscribed to TDN will have greater transparency into their trade give up/ take in process on SGX, including being able to see the current status of all their SGX fills. In addition, TDN can provide resiliency services by securely replicating and storing all trading activity and messages from SGX (as with all connected exchanges). This will improve risk management and recovery in the event of a systemic outage such as a cyberattack or technology failure. SGX Group is the third exchange to connect to the Trade Data Network, alongside CME Group and Eurex.

Alison King, Head of Trading and Clearing Services for Equities at SGX Group, said: “We are pleased to be part of the Trade Data Network to enhance connectivity for our members. As Asia’s leading derivatives marketplace across multiple asset classes, trust and efficiency are always top-of-mind, and we look forward to broadening our work with FIA Tech.”

Nick Solinger, President and CEO of FIA Tech, noted: “We are delighted to have SGX connected to TDN and look forward to having SGX TDN members fully operational soon. This is a significant milestone for TDN, and working with our clearing firms and connected exchanges like SGX, we hope to provide increased operational resilience and efficiency in the exchange traded derivatives industry.”