Published On: Wed, Mar 11th, 2015

SGX expands FX footprint with new Asian currency futures

Michael Syn, Head of Derivatives at SGX

Michael Syn, Head of Derivatives at SGX

Singapore Exchange (SGX) will add new Asian currency futures contracts on the Taiwanese dollar (TWD/USD) and Renminbi crosses (SGD/CNH, CNY/SGD, EUR/CNH) to expand its current suite of foreign exchange (FX) futures in the third quarter of 2015, subject to regulatory approval. This is in line with global G20 regulatory reforms in the over-the-counter (OTC) derivatives sector to encourage trading on electronic platforms and exchanges, if appropriate.

The SGX Asian FX futures suite has registered exponential growth over the past year to reach over US$37 billion in aggregate notional value traded since its launch, with key contracts such as the Indian rupee and Singapore dollar contracts continually setting new volume records. The significant uptake in SGX’s Asian FX futures closely reflects the growing demand by global investors to trade Asian FX derivatives on a regulated exchange platform providing greater market transparency and robust price discovery in the Asian time zone.

“Global market participants can continue to draw on SGX’s unique platform to fulfil their investment needs and effectively manage their Asia-wide exposures across multiple asset classes in the Asian time zone. We remain focused on product innovations and strategic partnerships to push new grounds in the Asian FX markets,” said Magnus Böcker, CEO of SGX.

SGX recently entered into a new partnership with EBS, ICAP’s market-leading electronic foreign exchange (FX) business, to develop new Asian currency products and services and strengthen the liquidity in both the FX OTC and futures markets in Asia.

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