Published On: Mon, Mar 15th, 2010

SGX Widens Global Network Rolls Out New Commodity and Derivative Products

Singapore Exchange (SGX) announced March 11 additions to its membership network and fast-growing product suite, tapping on the rising global interest in Asian equities, derivatives and commodities.

The new members given in-principle approval are:

Securities Trading and Clearing

1.Goldman Sachs Futures Pte Ltd
2.Standard Chartered Securities (Singapore) Pte Ltd
3. IIFL Securities Pte Ltd (subsidiary of India Infoline, one of the leading financial services firms in India)

Securities Trading

1. MF Global Singapore Pte Limited
2. Cantor Fitzgerald (Singapore) Capital Markets Limited

Securities Clearing

1. Deutsche Bank AG

Derivatives Trading

1. Cantor Fitzgerald (Singapore) Capital Markets Limited

Derivatives Clearing

1. United Overseas Bank Ltd

Recent additions over the past 6 months include Fortis Bank Global Clearing N.V., Citibank N.A. and Taiwan-based Capital Futures Corporation.

At a briefing to international media at the FIA Conference in Boca Raton, USA, SGX CEO Magnus Bocker said, “As part of the Asian gateway network, our new members would be excellent conduit for their global clients looking for Asian theme products. SGX is committed to provide efficient and direct market access, and to work closely with all our members in the distribution of our Asian theme products.”

“Today, we have a comprehensive suite of securities and derivatives products for our international investors. More choices can be expected in due course, as we explore other asset classes such as Asian equities derivatives and fixed income. We also have plans to broaden our OTC clearing services to include interest rate swaps and foreign exchange forwards; and strengthen our commodities product spread.”

“With the increasing demand for OTC products to be exchange-traded and growing investors’ appetite to trade Asian commodities products, it is timely for us to launch the SICOM Gold Deferred Settlement contract, our second commodity contract for the year, this month,” added Mr Bocker.

SICOM Gold Deferred Settlement contract (SICOM Gold) will commence trading on 30 March 2010. It is a unique contract that allows investors to gain exposure to the international spot gold price without having to handle any physical delivery of gold nor payment of the full notional contract value.

This announcement follows earlier joint-releases on further collaboration with India’s NSE and the India Index Services & Products Limited (IISL) to introduce a series of options based on India S&P CNX Nifty Index (Nifty) and related products such as CNX Nifty Junior, CNX 100 and CNX Midcap indices. This is a significant step in strengthening our Indian portfolio, facilitating access for our investors into the India market, one of Asia’s largest economies.

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