<a href="https://www.theedgesingapore.com/tags/singapore-exchange-sgx" target="_blank">Singapore Exchange (SGX)</a> has announced it will be investing approximately US$200 million ($269.6 million) as a limited partner in a private equity fund managed by 7RIDGE. The fund is acquiring US-based Trading Technologies International (TT), a global provider of trading software, infrastructure and data solutions for listed futures and options.

According to a report by the Financial Times on Nov 1, London-based 7Ridge is owned by Carsten Kengeter, the former chief of Deutsche Börse. The deal values TT at slightly less than US$500 million. Other limited partners that will invest in 7RIDGE include CBOE Global Markets.

See also: <a href="https://www.theedgesingapore.com/capital/markets/sgx-bags-two-exchange-year-awards" target="_blank">SGX bags two Exchange of the Year awards</a>

In its announcement on Nov 1, SGX states that with 7RIDGE as its new strategic partner, TT will be in a “strong position to accelerate the expansion of its industry-leading technology platform”.

“Together with other independent software vendors, Trading Technologies has been a long-term partner of SGX, serving our global derivatives customers with its front-end workflow and connectivity solutions. We look forward to continued collaboration with TT as it builds upon its strong position in the derivatives market, to deliver even more innovative and efficient solutions for the benefit of our ecosystem,” says Loh Boon Chye, CEO of SGX.

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The investment, which is expected to close before the end of the year, will be funded with a mix of cash and borrowings and is not expected to materially impact SGX’s near-term earnings.

As at 9.23am, shares in SGX are up 7 cents or 0.72% higher at $9.75.

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