The Singapore Exchange (SGX) announced in a statement Tuesday that its trading operations will become fully electronic from Oct. 2 this year.

From then on, all trading of the SGX Euroyen futures and options will be made on SGX QUEST while the SGX Eurodollar futures and options will continue to be available via the Negotiated Large Trade facility.

The open outcry trading facility at SGX Center will be closed accordingly at the end of the business day of Sept. 29, which " marks the successful conclusion of the electronic migration campaign that SGX started in November 2004," the statement said.

Calling the shift from open outcry to electronic trading a response to the changing market dynamics, the SGX said that the electronic trading volume for its derivative products surged by over 170 percent year-on-year in the first half of 2006.

Source: Xinhua