Eurex, a derivatives exchange which is jointly operated by Deutsche Borse and SIX Swiss Exchange, and Singapore Exchange (SGX) have partnered to launch the SGX EURO STOXX 50 Index futures and options on futures for the first time in Asia. The partnership is based on a license agreement between the STOXX, a global index provider, and SGX.
SGX will list US-dollar denominated EURO STOXX 50 Index futures and options on futures in the second half of 2010, subject to Monetary Authority of Singapore approval.
Under the partnership, SGX and Eurex will jointly market and promote the US-dollar based contracts.
Chew Sutat, head of corporate & market strategy at SGX, said: “The SGX EURO STOXX 50 futures and options on futures contracts will complement our suite of Asian products, providing global customers with one-stop access to Asian and European equity markets as well as trading opportunities between SGX and Eurex. Customers also will have first-mover advantage to react to weekend or overnight European and US market news and manage their European exposures during Asian hours.”
Michael Peters, member of the executive board at Eurex, said: “Through our cooperation, we extend the user base of Europe’s most liquid index derivatives contract. This will result in new trading and hedging opportunities globally and should further increase the liquidity of this benchmark product. Our partnership will also strengthen our position in Asia as a global exchange.”
Hartmut Graf, CEO of STOXX, said: “Through this cooperation, STOXX ensures increased attractiveness of the EURO STOXX 50 Index for investors in Asia, and takes another step to expand its European success story globally.”