SGX expands with new Hong Kong branch

To improve HK-Singapore financial market relationship.

Singapore Exchange Derivatives Trading Limited (SGX-DT) today opened its Hong Kong branch with Ringo Chiu as Chief Representative.

According to a release from Sinagpore Exchange, SGX-DT’s new Hong Kong branch follows the exchange’s Automated Trading Services (ATS) authorization received, enabling SGX-DT to better serve its customers keen on using its suite of Asian derivative products including the China A50 futures, to manage risk and trade.

The release also said that in the 12 months ended June 2014, the China A50 futures saw a volume of over 24 million contracts, up 45% from a year earlier.

Meanwhile, Chew Sutat, Head of Sales and Clients at SGX, said: “SGX-DT’s presence through our new office and liquidity hub offers market participants enhanced connectivity and market access to Asia's growth, thus complementing Hong Kong's capital markets and bringing the financial markets and participants of Hong Kong and Singapore closer together.”

Here's more from Singapore Exchange:

SGX-DT offers its clients the world’s biggest offshore market for Asian equity index futures, including the India Nifty, Nikkei 225, MSCI Taiwan and MSCI Indonesia futures.

SGX-DT will also expand its current suite of foreign exchange (FX) futures in the second half of 2014, subject to regulatory approval, by introducing currency futures contracts on renminbi (RMB), yen and Thai baht.

The current suite of FX futures contracts launched in November 2013 has seen over US$2.7 billion in notional value traded in the last three quarters since it began trading.

The exchange’s distribution network has grown over the last five years with 15 brokers originating from Greater China that have joined SGX-DT as members.

Of this number, six are incorporated in Hong Kong. They are GF Futures (HK), Nanhua Futures (HK), Quam Securities, Sinopac Securities (Asia), Marigold International Securities and Emperor Futures.

SGX-DT also announced today the launch of its liquidity hub at Hong Kong Exchanges and Clearing Limited’s (HKEx) Data Centre, bringing participants in Hong Kong a more cost effective and convenient means to trade into SGX’s derivatives market.