.jpg)
Singapore Exchange (SGX) and futures broker Phillip Futures are setting up a new Professional Traders Development Centre to train and grow the talent pool of professional traders. Phillip Futures is the latest futures broker to work with SGX on its Professional Traders Development Programme which was launched in January 2012.
The new Centre will accept up to 50 new traders per quarter on its training and mentorship programme which will start in May 2012. The initiative will cater to the rising interest in trading of SGX derivatives contracts which saw a record trading volume of 72 million contracts in 2011, 18% higher than in 2010.
The core offering at this Centre is a derivatives trading course with SGX Academy trainers providing mentorship during actual trading. This collaboration is expected to train more than 200 traders a year. The lead trainer is Mr Leonard Kok, a well-respected industry veteran in futures trading and also Vice President of the Association of Financial & Commodity Traders (Singapore) (AFACT). The Centre will create an “electronic pit environment” where new traders are given guidance and taught risk-management techniques to enhance their trading strategies.
“We are very excited to launch this Centre which will support the increased interest in derivatives trading. The Centre will help traders build a strong foundation for their career by exposing them to the real trading environment in the early phase of their training and development, thereby imparting the skill sets needed for a professional trading career,” said Mr Ng Tee How, President of AFACT.
“As a pioneer derivatives clearing member of SGX, we look forward to partnering the Exchange in our shared objective of driving the development of professional trading,” said Mr Teyu Che Chern, CEO of Phillip Futures Pte Ltd.
“This new partnership leverages on Phillip Futures’ expertise as a renowned and trusted broker for 28 years, as well as SGX’s standing as a leading Exchange in Asia. With our SGX co-location infrastructure in place, the timely launch of the Centre is in line with our commitment to promoting a conducive one-stop hub to groom the new and to service the advanced traders,” added Mr Teyu.
“The Professional Traders Development Centre is an integrated training platform providing a rigorous trading and mentorship programme which supports exchange of trading ideas and strategies in a ‘live’ trading environment. This integrated training approach will build talents and capabilities for the derivatives trading community and lead to a more exciting derivatives trading landscape going forward,” said Mr Chew Sutat, SGX Executive Vice President who oversees the Academy.
For more information on the activities of the Professional Traders Development Programme, please visit www.sgx.com/academy.
