SGX Derivatives Trading (SGX-DT)
The Singapore Exchange Derivatives Trading (DT) market offers both short and long term interest rates, Equity Index futures, and options on futures and commodity futures for palm and fuel oil.
The SGX TITAN-DT Trading and Clearing Infrastructure based on NASDAQ Genium INET platform. Access to SGX-DT requires consideration of the two different SGX TITAN-DT API options (OMNet API or ITCH/OUCH).
|OMNet API Market Data:||OMNet API Trading:|
OnixS directConnect: SGX TITAN-DT ITCH Market Data & OUCH Trading Handlers provide solutions for:
|ITCH Market Data:||OUCH Trading:|
The general context of the options between the SGX TITAN-DT OMNet API and the SGX TITAN-DT ITCH/OUCH API are that:
- The OMNET API provides the full suite of functionality at the cost of performance and is typically what most general use market participants will prefer.
- The SGX TITAN-DT ITCH/OUCH APIs are more likely to be used in proprietary trading firms where the trading strategies are very latency critical. The improved speed is the tradeoff against the more limited functionality available.
Order entry (tx) independent of acknowledgement messages (ack)
|Synchronous. Next order can only be sent upon receiving acknowledgement of previous order|
|Performance||High performance can be achieved with a single session||Parallel sessions can be used to maximise throughput|
|Partitions||Each gateway can only connect to one partition.
Partition specific. Requires a minimum of 2 OUCH IDs to support all products on DT
|Each gateway can send transactions to all partitions
Not partition specific
|Throttles||50 TPS||10 TPS or 50 TPS|
|Quotes||No quoting function. Market Making by submitting both side orders to fulfill quoting obligation||Mass quote with MO36/MO96|
|Market Maker Protection||Not available||Can be configured with DC87|
|Order Types||Limit orders only (i.e. no market orders, overnight long dated orders etc)||All types of orders, including Trade Reporting and Queries|
|Order Routing Latency||Approximately 100-150us||MO1 latency is approximately 150-200us|
|Market Data||No market data broadcast flow (bdx), requires Market data broadcast flow (bdx) in same sessionstherefore a companion ITCH feed is needed||Market data broadcast flow (bdx) in same sessions
Market Feed API also available for advanced OMS clients who prefer to use separate sessions for bdx
|Drop Copy||No drop copy functionality||Drop copy (using BO5)
Order Book including orders sent via OUCH gateway
Supports cancellation of orders entered by another session, or via OUCH
|Connectivity||Colocation only||Colo, WAN, Liquidity hubs|
Singapore Exchange, SGX, the SGX logo are trademarks of the Singapore Exchange. NASDAQ Genium INET, OMNet are trademarks of NASDAQ OMX and OMX AB.
SGX Derivatives Trading (SGX-DT) DMA Solutions
The OnixS directConnect: SGX-DT Direct Market Access solutions provides ultra low latency access for market data and execution management designed to be closely coupled to automated latency-critical trading strategies
- OnixS directConnect: SGX TITAN-DT-OMNet
- OnixS directConnect: SGX TITAN-DT-ITCH/OUCH
The OnixS directConnect SGX-DT Market Data and Trade Handler solutions are implemented and supported on Windows and Linux (RedHat, CentOS, Ubuntu) 32 and 64-bit C++ platforms.