SGX plans new currency derivatives and opens Hong Kong office

The Singapore Exchange, which has just opened a new Hong Kong office, will add new Asian currency futures contracts during the third quarter of 2015.

Singapore Exchange (SGX) will add new Asian currency futures contracts on the Taiwanese dollar (TWD/US dollar) and renminbi crosses (Singapore dollar/CNH, CNY/Singapore dollar, euro/CNH) during the third quarter of 2015 subject to regulatory approval. 

The exchange said this is in line with global G20 regulatory reforms in OTC derivatives sector to encourage trading on electronic platforms and exchanges.  

SGX’s suite of Asian foreign exchange products has exceeded US$37 billion in aggregate notional value traded since launch, with contracts such as the Indian rupee and Singapore dollar contracts repeatedly setting new volume records.

The exchange said it has entered into a new partnership with EBS, ICAP’s market-leading electronic foreign exchange business, to develop new Asian currency products and services and strengthen the liquidity in local markets.

SGX has opened a new Hong Kong office, registered as Singapore Exchange Derivatives Trading Limited – the name attesting to the provision of equity index and derivatives futures.

The office was opened by Chew Sutat, SGX’s executive vice president, who said they were working closely with local partners in developing Hong Kong’s derivatives market.