Singapore Exchange (SGX) has teamed up with fintech firm Trumid and Hillhouse Capital to launch a new Asian bond trading platform targeting global clients.
The join venture – XinTru – combines Trumid’s cutting-edge technology and fixed income expertise, SGX’s deep experience in Asian financial market infrastructure and electronic trading, and Hillhouse’s expertise and network in Asia and the financial services sector.
XinTru will launch and operate Trumid XT, an electronic bond trading platform powered by advanced technology and rich analytics.
With an emphasis on domain-focused and intuitive product design, the platform will seamlessly fit into traders’ workflows. Trumid XT will connect the commercial footprint and liquidity from SGX’s Bond Pro and Trumid’s Market Center in the United States (US), to provide a robust network for trading of Asian fixed income.
Trumid XT will enhance international access to Asian bond markets, while also facilitating Asian investor participation in US and global emerging market credit.
Asia’s fixed income market continues to expand on the back of economic growth and low interest rates, which have driven increases in corporate bond issuance and inflows to Asia-focused funds.
As Asia’s leading international fixed income marketplace, SGX is Asia’s most global bond venue with over 40% of Asia Pacific’s G3 currency issuances listed on the exchange. To date, SGX has listed over 6,600 listed securities by more than 1,600 issuers from 66 countries, with amounts issued of over US$2.2 trillion in 26 currencies.
With Trumid XT’s launch, SGX Bond Pro’s diverse client base across Asia Pacific, UK, Europe and the Middle East will be able to connect seamlessly on one platform. Since its 2015 launch, SGX Bond Pro has built a diverse participant base that includes global and regional dealers, bank treasuries, wealth and asset managers, family offices and hedge funds.
XinTru’s independent management team includes Chief Revenue Officer Ben Falloon who brings 20 years of Asia fixed income experience and relationships, and Chief Operating Officer Mark Leahy who has significant experience building and operating capital markets businesses in the region. – BusinessNews.ph