RBS Extends Role in SGX Derivatives Market With Trading Membership
Singapore Exchange (SGX) said January 25 The Royal Bank of Scotland PLC (RBS) has expanded its participation in the derivatives market by becoming a Trading Member.
RBS has been a Bank Clearing Member in the derivatives market since June 2008.
Mr Rama Pillai, Head of Sales and Distribution at SGX, said, “We are pleased that The Royal Bank of Scotland is growing its presence in our derivatives market. RBS’ decision to offer more services in the derivatives space further testifies to the value that market participants see in providing their clients with direct trading access to SGX. We look forward to RBS broadening its contribution to the Singapore derivatives market by reaching out to new investor segments.”
Mr Jeremy Wright, Global Head of Futures and Counterparty Clearing at RBS, said, “RBS is delighted to receive the formal approval from SGX to implement direct execution connectivity with the exchange. This is a key development which will aid RBS’ plan to expand its Global Futures and Clearing business in Asia and demonstrates the Bank’s commitment to provide enhanced execution capabilities to its target clients, which are the large corporations, financial institutions and government bodies.”
The presence of RBS brings to 31 the number of Trading Members in the derivatives market. The market also has 34 Clearing Members. In addition, the securities market has 30 Trading Members and 29 Clearing Members.