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Singapore UOB subsidiary joins NYSE network

a staff writer | May 23, 2011
Singapore-based futures broker now connected to the global financial industry's most sophisticated electronic trading network.

A subsidiary of Singapore's United Overseas Bank has now plugged in to one of the global financial industry's most secure and resilient global networks, by becoming a member of NYSE Liffe's London and Paris markets.

The UOB subsidiary, Singapore-based futures broker UOB Bullion and Futures (UOBBF), is now directly connected to NYSE Liffe, using NYSE Technologies' SFTI (Secure Financial Transaction Infrastructure) network. NYSE Liffe is one of the leading European derivatives businesses.

UOBBF specialises in equity index and interest rate derivatives trading, which are key strengths of NYSE Liffe. Both NYSE Euronext's Euribor and FTSE 100 Index futures contracts open at 0100hrs London time, enabling trading during the Singapore working day.

NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products.

The SFTI is the highly resilient, ultra low-latency communications backbone created in 2002, specifically for the financial industry. It provides connectivity to a range of exchanges, market centers and content service providers, including all of the National Market System venues in the U.S.

Industry's most secure network

SFTI also connects to more than 1,300 market participants and offers third-party technology products through its unique hosted solutions platform. Designed to be the industry's most secure and resilient global network, SFTI is specifically built for electronic trading and market data traffic thus enabling firms to reduce their time-to-market, improve their performance and significantly lower the cost of their trading.

NYSE Liffe Executive Director and Country Head, Benelux and Asia, Alan van Griethuysen, the firm was very pleased to welcome UOB Bullion and Futures as a member of the LIFFE market.

"Over the past few years, we expanded our presence here in Singapore and extended opening hours in two flagship contracts to meet the needs of customers in this time-zone," Griethuysen said.

Fastest possible access

UOBFF's executive director Matthew Png, said: "We are now directly connected to NYSE Liffe using NYSE Technologies' SFTI network. With this direct access we will be able to offer our customers the fastest possible access to NYSE Liffe's London and Paris markets via an ultra-low latency link, hence offering an alternative to traditional order-routing."

United Overseas Bank Limited (UOB) provides a wide range of financial services through its global network of more than 500 offices in 19 countries and territories in Asia Pacific, Western Europe and North America, including banking subsidiaries in Singapore, Malaysia, Indonesia, Thailand and mainland China.

In Singapore, UOB is a market leader in the credit and debit cards business, and the private residential home loan business. It is also a key player in loans to small and medium enterprises.

 

 

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