It has been confirmed by the Singapore Exchange (SGX) that it has signed a five-year IT infrastructure agreement with HCL Technologies for S$110 million (USD 78.6 million).

As per the deal, HCL will offer various services like infrastructure support and management to the exchange. This will be a part of its Reach Initiative.

The program wants to turn the Singapore Exchange (SGX) into the world’s fastest trading exchange and connect it effortlessly with other stock exchanges across the globe.

HCL Technologies is very happy with the deal and is hopeful of signing similar deals in the coming days. It confirmed that there are two significant aspects of the deal.

It also hopes to generate healthy revenues from the deal apart from increasing its standing in the global market. Market experts also claim that the deal is a big shot in the arm for HCL and will ensure that the Company gains a lot of foothold in the market, in the coming days.

HCL will also help Singapore Exchange (SGX) to move to a new and improved trading platform that includes data central and dual hub architecture. The deal will be starting from July 15 next month. It is initially expected to run for a period of five years with a possibility of extension for a period of three years.

HCL is expected to deliver the services from its centers in Jurong in Singapore and Noida in India.