Singapore Exchange (SGX) has added BNP Paribas Securities (Singapore) as a trading member of its derivatives market and has reported strong performance in trading activity during the last month.
BNP Paribas becomes the 35th member of SGX derivatives market. The France-based broker is already a clearing member of SGX’s derivatives market and is a trading and clearing member of the securities market.
“With its new membership, BNP Paribas can provide more products and services to customers seeking easy access to Asia while growing the distribution of our offerings globally,” said Chew Sutat, head of sales and clients at SGX.
“This membership marks a new milestone for our presence in Singapore,” added Jean-Pierre Bernard, CEO of BNP Paribas in Singapore. “As a leading bank and an active market player, this membership gives us another opportunity to reinforce our strong commitment and expand our capabilities in this region.”
SGX has reported that 5.2 million contracts were traded in July, a 15% increase over July 2010. Average daily volume of derivatives trading in July 2011 was 252,751 contracts. Particularly strong growth was recorded in Nifty futures, which rose by 52% year-on-year, with 1.2 million contracts traded last month. Trading of China A50 futures rose 2% from June, with 229,717 contracts traded in July.