Singapore Exchange (SGX) has expanded its membership network and product suite, tapping on the rising global interest in Asian equities, derivatives and commodities.
The newly added members to the network are Goldman Sachs Futures; Standard Chartered Securities (Singapore); IIFL Securities,a subsidiary of India Infoline; MF Global Singapore; Cantor Fitzgerald (Singapore) Capital Markets; Deutsche Bank; Cantor Fitzgerald (Singapore) Capital Markets and United Overseas Bank.
Additionally, SGX plans to launch SICOM gold deferred settlement contract (SICOM Gold) trading from March 30, 2010. The contract 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.
Magnus Bocker, CEO of SGX, 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.”