Joint News Release
Singapore and Noida, 14th June 2010 – Singapore Exchange (SGX) and HCL Technologies (HCL), a leading global IT services provider, today said they have signed a five-year IT infrastructure outsourcing agreement worth S$110 million.
Under the agreement, HCL will provide SGX with infrastructure support and management services including the exchange’s Reach initiative. The S$250 million Reach initiative announced on 3 June aims to create the world’s fastest trading engine, establish a state-of-the-art data centre offering co-location facilities and seamlessly connect trading communities in global financial hubs to Singapore.
HCL’s solution architecture for SGX is powered by a dynamic two-pronged strategy comprising ‘Change the Business’ and ‘Run the Business’ services.
Mr. Bob Caisley, Executive Vice President and Chief Information Officer at SGX said, “HCL is an important partner for SGX in enabling the Reach initiative to provide customers with the fastest access to Asia, and in enhancing the efficiency and effectiveness of our operations on a daily basis. The implementation of Reach will ensure that SGX’s position as a leading listing venue for international issuers and the unparalleled trading venue for Asian products is fortified and future-proofed.”
“This agreement will leverage on HCL’s transformational solutions. With this agreement in place, our 700 plus strong team at HCL’s Regional Headquarters and delivery centre, we plan to further consolidate our position here in Singapore to develop and focus extensively on markets in the Asia Pacific region,” said Mr. Virender Aggarwal, Executive Vice President for APAC & MEA, HCL Technologies.
Commenting on the engagement, Mr. Kiran Bhagwanani, Senior Vice President and Worldwide Head of System Integration Sales, Infrastructure Services Division, HCL Technologies, said “It is our privilege to be associated with SGX as it continues to improve its customer offerings. Our aim is to enable transformation of data centre and network operations at SGX to bring in enhanced efficiency and clear business benefits. We have a lineage of long-lasting successful engagements of similar nature that involve critical service propositions. We are equally committed to ensuring superior performance year-on-year for SGX and its members, having been entrusted with the responsibility of managing its large and complex infrastructure.
SGX signs IT infrastructure agreement with HCL Technologies
Mr. Muthukrishanan Ramaswami, Senior Executive Vice President and Chief Operations Officer of Singapore Exchange Limited (Left below the SGX logo)
Mr. Virender Aggarwal, Executive Vice President for APAC and MEA of HCL Technologies (Right below the HCL logo)
For further information, kindly contact:
Tel: (65) 6236 8157
About Singapore Exchange
Singapore Exchange (SGX) is among the world’s largest exchanges and Asia’s second largest listed exchange. As the Asian gateway, SGX is the market of choice for investors wanting to participate in Asia’s vibrant and rapidly-growing economies, and for Asian issuers seeking international capital.
SGX's extensive suite of securities, derivatives and commodities products makes it Asia’s most international exchange. SGX's services range from listings, trading, high-speed market access, clearing and settlement to depository services and Central Counter Party services for OTC traded derivatives. With the region's longest trading hours, and powered by cutting edge technology, SGX is the unparalleled conduit for investment flows into and out of Asia. For more information, please visit www.sgx.com
About HCL Technologies
HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on ‘transformational outsourcing’, underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of ‘Employee First’ which empowers our 58,129 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 2.6 billion (Rs. 12,048 crores), as on 31st March 2010 (on LTM basis). For more information, please visit www.hcltech.com
HCL is a $5 billion leading global technology and IT enterprise comprising two companies listed in India - HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing, HCL is a global transformational enterprise today. Its range of offerings includes product engineering, custom & package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL team consists of over 62,000 professionals of diverse nationalities, who operate from 26 countries including over 500 points of presence in India. HCL has partnerships with several leading Global 1000 firms, including leading IT and Technology firms. For more information, please visit www.hcl.com
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes', 'strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies / entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward looking statements made herein will prove to be accurate, and issuance of such forward looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
HCL’s solution architecture for SGX is powered by a dynamic two-pronged strategy that includes ‘Change the Business’ services for successful implementation of transformational programmes such as Dual Data Centre Architecture, Exchange & Email Archiving, Server Virtualization, Network Consolidation; and ‘Run the Business’ services for achieving operational excellence across Cross-functional Services, Servers, Mainframe & Web Hosting, End User Computing & Managed Network Services. This solution framework, designed keeping the core tenets aligned to its business and sourcing objectives, will be delivered out of HCL’s Jurong and Noida delivery centres.