Published On: Tue, Apr 30th, 2013

DMG & Partners Securities Joins SGX as Derivatives Clearing Member

Chew Sutat, Head of Sales, SGX

Chew Sutat, Head of Sales, SGX

Singapore Exchange (SGX) welcomes DMG & Partners Securities Pte Ltd as a Clearing Member of its derivatives market.

“We congratulate DMG & Partners, our Derivatives Trading member, for expanding its role in our market by also becoming a Derivatives Clearing member. Our members, particularly those from Asia, are increasingly stepping up their participation in our market. This affirms the growing importance of Asian derivatives among investors and underscores SGX’s role as the leading centre for the management of Asian risks,” said Chew Sutat, Head of Sales and Clients at SGX.

SGX’s derivatives market has achieved record open interest in recent months. Open interest reached a new one-day high of 3.28 million contracts on 24 April.

DMG & Partners is a joint venture between Malaysia’s OSK Investment Bank Berhad, a subsidiary of RHB Capital Berhad, and Deutsche Asia Pacific Holdings Pte Ltd, a member of the Deutsche Bank Group. Effective 13 April 2013, the business of OSK Investment Bank has merged with that of RHB Investment Bank Berhad.
“Becoming a Derivatives Trading and Clearing Member of Singapore Exchange is a key step for OSK-DMG towards achieving our objective to be recognised as a leading financial institution in Singapore. We are committed to investing in our business to provide our clients with an expanding product platform. Being anchored by the RHB Banking Group, one of Malaysia’s largest financial services group, we are able to leverage on its franchise and network in becoming a significant player in the Futures business in the ASEAN region,” said Robert Huray, CEO, DMG & Partners Securities.

The admission of DMG & Partners brings the number of Clearing Members for SGX’s derivatives market to 28. The derivatives market also has 43 Trading Members. In addition, SGX has 12 Clearing Members for OTC-traded financial derivatives, while the securities market has 25 Trading Members and 26 Clearing Members.

About the Author

-

IRP Journal

IRP Journal

Sponsor

OPINION POLL

Poll results are published in our Weekly Newsletter -->
subscribe
All Rights Reserved WIld Wild Web Limited