Trading commodities, stocks, bonds, or currency in today's exchanges requires a network with a reliable platform and the lowest available latency to execute the orders. The competition is such that milliseconds can be the difference between gaining and losing millions of dollars. High-speed trading allows firms to trade 60 to 80, or even more than 100 million shares in one day using pre-programmed algorithms. High-speed funds can execute thousands of trades in one second and hold them for only minutes before they are sold.
The Bank of Singapore has selected Ullink, provider of low-latency connectivity and trading solutions for the financial community, for its connectivity and order management system so the bank can have a trading infrastructure that is faster and more reliable. According to the bank, they chose Ullink after an extensive vetting process involving some of the best vendors in the sector.
Under the agreement Ullink will host and manage the infrastructure in collocation at the Singapore Stock Exchange (SGX). By implementing the Ullink platform, Bank of Singapore will be able to keep up in a very competitive Asian market that is growing at a very fast rate. The bank's customers will be able to receive fast updates allowing them to trade execution electronically. This will eliminate human error, and save valuable time that can be measured in milliseconds.
The Ullink platform provides a cost effective solution that reduces bandwidth and storage cost with a universal system across propriety and vendor system with protocols and message formats. It has a global presence with 70 direct market access (DMA) markets along with 350 execution venues. The platform has low latency and high throughput, with benchmarks and production records that have been recognized with awards.
Ullink is fully independent with not ties to vendors, brokers, or exchanges providing equity, fixed income, futures, options, and FX.
"We are looking forward to building a long-term partnership with Bank of Singapore, and our new office in Singapore is part of this commitment to the region and to the community. We are glad to continue our expansion in this region by helping our customers move on, to a new generation of trading systems," said Philippe Thomas, head of Asia at Ullink.
Edited by Alisen Downey