The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and the Singapore Commodity Exchange (SICOM) report successful launch of e-SICOM, SICOM's new electronic trading and clearing system for commodity derivatives. e-SICOM went live on September 29th, and has since received acknowledgment from participating members and investors. NASDAQ OMX delivers the trading and clearing engine, while leading IT professional service provider, NCS Group, provides infrastructural IT services.
e-SICOM's web-based interface enhances access for market participants and acts to create a more efficient marketplace and trading experience for commodity derivatives in Singapore. The new system also allows SICOM to more quickly and easily introduce new commodity products at its exchange.
"The system launch marks an important milestone for SICOM as it paves the way for easier and more open access to the commodities market," said Mr Jeremy Ang, Chief Executive Officer of SICOM. "Leveraging world-leading technology from NASDAQ OMX, our e-SICOM platform is built to create an efficient and liquid commodity marketplace in Singapore, and also makes it easier to add new products to our existing suite."
"It is very rewarding to have launched a system that will put SICOM in the forefront of international commodity exchanges," said Mr. Lars Ottersgard, Senior Vice President Market Technology at NASDAQ OMX. "e-SICOM represents our fifth exchange system to go live this year and our third in Singapore, after earlier this year launching both market data and trading systems at the Singapore Exchange."
"We are very pleased to support SICOM in making it possible to enter into a new era of e-trading. Our strong infrastructure management solutions ensure operational efficiencies and quality delivery of the system," said Mr. Chang Chew Lik, General Manager at NCS Financial Services. "Together with NASDAQ OMX, our complementary capabilities and shared commitment to excellence in service delivery ensure successful delivery of the project."
ABOUT SICOM
SICOM, a company of Singapore Exchange Limited (SGX), is Singapore's regulated marketplace for the trading of commodity futures and the world's price discovery centre for natural rubber. The Monetary Authority of Singapore (MAS) is the regulatory authority of SICOM.
SICOM lists Ribbed Smoked Sheet (RSS) 3 and Technically Specified Rubber (TSR) 20 rubber futures contracts. SICOM TSR20 is the only active TSR20 rubber contract in the world.
For more information, please visit SICOM website at www.sicom.net
ABOUT NCS GROUP
NCS Group is a leading information technology (IT) and communications engineering service provider with more than 5,000 staff located in more than 10 countries across the Asia Pacific and Middle East regions.
NCS has in-depth domain knowledge and unique delivery capabilities which focus on defining, realising and sustaining Business Value for its Customers via the innovative use of technology.
With proven expertise in consulting, development, systems integration, outsourcing, infrastructure management and solutions gained while serving government and commercial organisations across the region, NCS delivers end-to-end support for every organisation's technology needs.
Headquartered in Singapore, NCS is a wholly-owned subsidiary of the SingTel Group.
For more information, please visit www.ncs.com.sg.
ABOUT NASDAQ OMX GROUP
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with over 3,900 companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; the OMX Nordic Exchange, including First North; and the 144A PORTAL Market. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and ETFs. NASDAQ OMX technology supports the operations of over 60 exchanges, clearing organizations and central securities depositories in more than 50 countries. OMX Nordic Exchange is not a legal entity but describes the common offering from Nasdaq OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit www.nasdaqomx.com.
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