Headquartered in the AAA-rated island city-state of Singapore, SGX is Asia’s leading multi-asset exchange and a vertically-integrated business providing listing, trading, clearing, settlement, depository, and data services. With approximately 40 percent of its listed companies and 80 percent of its listed bonds originating outside of Singapore, SGX is Asia’s most international exchange. It employs more than 800 people and has offices in Beijing, Chicago, Hong Kong, London, Mumbai, New York, San Francisco, Shanghai, and Tokyo.
Singapore Exchange Limited (SGX) is an investment holding company that provides securities and derivatives trading services throughout Asia. SGX operates equity, fixed income, and derivatives markets in accordance with stringent and complex regulatory standards. As a global multi-asset exchange, the organization pursues technological innovation to power the transformation of critical financial market infrastructures.
Like other exchanges, SGX has evolved into a highly organized and regulated electronic marketplace that facilitates transactions for financial products across all asset classes—from equities to fixed income to currency and commodity derivatives. However, SGX was still reliant on heavy monolithic and complex transaction workflows. Batch processing and manual reconciliation still plagued most types of financial transactions, and compounded by localized infrastructure, hampered the growth and innovation SGX required to keep pace with the rapidly changing needs of investors.
Having used the monolith for quite some time, they cannot simply do away with it. The challenge, therefore, is to ensure BAU on the monolith for business to run while building a new microservices-based platform. Here are the other challenges that they were facing
As one of Asia’s top multi-asset exchanges, SGX wants to continually enhance the digital experience for its customers, employees, and business partners. With a robust trading engine at the heart of its operations, SGX develops dynamic applications and interfaces extending from this core. To enhance the speed and agility of its development processes, the company wanted to take advantage of the latest advancements in technology.
While transforming its development practices, SGX also had to uphold its rigorous security standards in all the systems.