SGX Welcomes HSBC as New Member
“We are delighted that HSBC has increased its presence in our derivatives market by joining as a Trading and Clearing Member. With its extensive global client network and strong financial position, we look forward to greater participation by HSBC and its clients in our market,” said Mr Chew Sutat, Head of Sales & Clients at SGX.
Mr Amit Gupta, Managing Director & Head of Global Markets Singapore, said: “HSBC is pleased to be accepted as a Derivatives Trading and Clearing Member of Singapore Exchange. Our clients who are now migrated from HSBC Futures (Singapore) Pte Limited will benefit from having a strong counterparty in The Hongkong and Shanghai Banking Corporation Limited and access to a wider range of investment products and services via a smoother account on-boarding and documentation process. This is a key deliverable as we strengthen our client offering across Asia and expand our capabilities and market presence.”
The addition of HSBC brings the number of Trading Members and Clearing Members in the derivatives market to 40 and 29 respectively, up 29% and 12% from 31 and 26 a year earlier. In addition, there are 11 Clearing Members for the clearing of OTC traded financial derivatives on SGX AsiaClear. The securities market has 30 Trading Members and 29 Clearing Members.