The Singapore Stock Exchange today announced that Marketnode, the Singapore Stock Exchange (SGX) and digital asset joint venture Temasek, has teamed up with key partners including some of the leading names in the global financial sector ahead of the launch of its products focused on digital issuance services, ESG bond data and deposit infrastructure. digital assets.
According to an official press release joint with Finance Magnates, Marketnode has forged partnerships with Barclays, BNP Paribas, BNY Mellon, Citi, Deutsche Bank, HSBC, Orient Securities International, Standard Chartered, Societe Generale and UOB.
The new partners will work closely with Marketnode to accelerate the use of its platform. Partners will also explore opportunities for product expansion beyond fixed income. SGX has highlighted that Marketnode’s fixed income source service platform will be launched in the fourth quarter of 2021.
“We continue to embrace the paradigm shift that the financial industry is undergoing as new technologies emerge. By collaborating with banking and technology partners, we are creating network effects and building scale and capacity that can be applied across assets within a single platform, for the benefit of banks, issuers and investors. We welcome all market participants to join To Marketnode in playing a role in accelerating the digital transformation of capital markets,” Lee Beng Hong, Head of Fixed Income, Currency and Commodities (FICC) at SGX commented on the recent announcement.
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Earlier this month, SGX and SET announced the expansion of their partnership with Thailand and Singapore DR Linkage.
Demand for digital products
In its recent press release, SGX highlighted a jump in demand for digital assets related products. In February 2021, Marketnode partnered with Covalent Capital and since then the two parties have launched integrated offerings such as automatic ISIN generation and digital bonds directly through processing (STP).
The participation of these banks in the Marketnode platform is a milestone. They also validate the overall infrastructure and services market for digital assets. Their contributions to enhancing the platform’s offering and capabilities will be invaluable. We look forward to welcoming more market participants as increased industry participation will enhance scope and robustness and spur further innovation in capital markets infrastructure.”
