SGX Welcomes Haitong International To Securities And Derivatives Markets As Trading Member
Singapore Exchange (SGX) welcomes Haitong International Securities (Singapore) Pte Ltd as a Trading Member of both its securities and derivatives markets.
Haitong International’s parent company, Haitong Securities, is a leading securities company in China, and one of its largest brokers. The admission of Haitong International to SGX brings the total number of Trading Members in SGX’s securities and derivatives markets to 26 and 45 respectively.
Chew Sutat, Head of Sales and Clients at SGX said, “At a time when China is rapidly developing its financial markets and economy, we are pleased to have firms like Haitong join our markets as a Member. The presence of Chinese members, with their network of clients in the mainland and elsewhere, will further enable Singapore to grow as a leading offshore centre for RMB.”
“We are delighted to become a Trading Member of SGX’s securities and derivatives markets. As we continue to expand overseas, it is important that we establish our footprint in major international financial hubs. Haitong International is therefore proud to be one of the pioneering non-bank Chinese financial institutions in Singapore. Our specialisation in RMB products, and our established network in China, enable us to serve as a link between Chinese investors and Singapore’s capital markets. We can also connect Southeast Asian investors to opportunities in China,” said Dr Lin Yong, Deputy Chairman and Chief Executive Officer of Haitong International Securities Group Limited.
Singapore’s securities market and derivatives markets have 26 and 27 Clearing Members each. In addition, there are 12 Clearing Members for OTC-traded financial derivatives on SGX AsiaClear.