Investment Aimed at Enhancing Trading Tech Capabilities
The Singapore Exchange (SGX) has announced an investment of around US$200 million (S$269.8 million) in a private equity fund overseen by 7RIDGE, a firm focused on transformative tech investments. This declaration was made public on Monday (Nov 1), with the fund earmarked to acquire Trading Technologies International, renowned for its advanced trading software and infrastructure for futures and options markets.
The transaction, set to conclude by year-end, will be financed through a blend of cash and borrowed funds, with SGX expecting no significant impact on its immediate financial performance. Trading Technologies, with nearly three decades of experience, provides a globally recognized, SaaS-based platform that ensures robust market connectivity and performance.
With 7RIDGE as a strategic partner, SGX anticipates that Trading Technologies will significantly enhance its technology platform’s reach and capabilities. This partnership aims to maintain and expand Trading Technologies’ role as a pivotal player in the derivatives trading landscape, offering connectivity and infrastructure solutions.
Loh Boon Chye, CEO of SGX, emphasized the longstanding relationship with Trading Technologies, which has been instrumental in serving SGX’s global derivatives clientele. “We are eager to further our collaboration as Trading Technologies strengthens its market position, introducing more innovative and efficient solutions for our trading ecosystem,” stated Loh.
