Published On: Sun, Oct 7th, 2012

SGX Receives U.S. CFTC Approval for MSCI Indonesia Futures Contracts

Michael Syn, Head of Derivatives, SGX

Michael Syn, Head of Derivatives, SGX

Singapore Exchange (SGX) is pleased that U.S. investors can now directly trade the SGX MSCI Indonesia Index futures contracts within the U.S. with ease.

On 2 October 2012, the Commodity Futures Trading Commission (CFTC) certified that the contracts, which are based on the MSCI Indonesia equity index, may be offered and sold to persons in the U.S.

The SGX-listed MSCI Indonesia futures is the first offshore futures contract providing international investors easy and efficient access to the fast-growing Indonesian market. Since its launch on 11 June 2012, the MSCI Indonesia futures contract has traded a notional value of US$290million. The open interest has grown by 55% over the last 3 months, reaching a high of more than US$15 million notional in September 2012. Barclays, Credit Suisse and Optiver continue to be Market Makers for this contract, providing both on screen and off screen liquidity.

“We have been a strong proponent of the Indonesia product by actively promoting it to our Asia Pacific client base since its launch earlier in 2012. I expect the end user range will increase and the product will quickly gain critical mass and become one of the liquid futures contracts in Asia Pacific,” said Colin Macfarlan, Credit Suisse Head of Prime Services – Listed Derivatives Asia Pacific.
“With the CFTC’s certification, U.S. investors can conveniently access the Indonesia economy, which has regained its investment grade rating early this year. SGX’s extensive range of equity derivatives, covering over 80% of Asia’s economies, will continue to serve as an international platform for efficient portfolio allocation and risk management.” said Mr Michael Syn, Head of Derivatives, SGX.

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