- High-grade iron ore derivatives among innovations demonstrating depth of risk-management service offering
- SGX bringing “virtual steel mill” closer to reality
Singapore Exchange (SGX) has been named “Financial Metals Service Provider of the Year” by S&P Global Platts in its Global Metals Awards.
SGX demonstrated the depth of its risk-management service offering with innovations such as the launch of high-grade iron ore derivatives in December 2018, which was a world-first. The exchange also harnessed its leadership in the international iron ore market to deliver capital efficiencies to customers across coking coal and freight, bringing the “virtual steel mill” closer to reality. S&P Global Platts, a leading provider of information, prices and analytics for energy and commodity markets, unveiled its award winners on 16 May in London.
Michael Syn, Head of Derivatives at SGX, said, “The financialisation of commodities such as iron ore, alongside structural market evolutions such as the shift in China’s environment policy, require innovation in delivering a strong risk-management toolkit. We are delighted to be recognised for our service proposition and we look forward to bringing more value to our customers.”
Since the start of Financial Year 2019, SGX has picked up several derivatives awards in asset classes including equity indices, foreign exchange (FX) and commodities:
- “Best FX Exchange in Asia” and “Best FX Clearing House in Asia” by FX Week;
- “Derivatives Exchange of the Year” by Asia Risk (fifth consecutive year);
- “Exchange of the Year – Derivatives” at the FOW Asia Capital Markets Awards;
- “Asia-Pacific Derivatives Exchange of the Year” by GlobalCapital (fifth consecutive year);
- “Exchange of the Year” by Energy Risk Asia (third consecutive year).
Note: SGX’s financial year is from 1 July to 30 June.