To date, 43 desks have been allocated to Corporate and Individual Members of SGX Derivatives Trading (SGX-DT). In addition, the exchange is processing about 30 applications to become new Individual Members (Locals). Pending approval, these potential Locals are prospective users of the GETC trading desks.
Of the trading desks allocated, 8 are blocked-booked by Man Financial (S) Pte Ltd, an SGX-DT Corporate Member. Under this block-booking arrangement, Man Financial offers PRIMETradeSM at these desks to SGX Locals, allowing them to access overseas markets, in addition to SGX's own derivatives market. PRIMETradeSM is an internet-based real-time global order routing system that allows users to trade futures and options derivative orders with major exchanges around the world. It is developed and licensed by Credit Suisse First Boston (CSFB).
Credit Suisse First Boston (Singapore) Futures Pte Ltd is a Corporate Member of SGX-DT.
Mr Jimmy Ang, EVP and Head of Derivatives Trading, SGX, said, "The arrangement is part of the exchange's continuous efforts to offer greater trading opportunities to our traders and in the process, add value for our member firms, our traders and our partner-exchanges."
Mr David Wong, Managing Director of Man Financial, said, "We are pleased to tap CSFB's extensive direct representation in Asian markets for the benefit of the SGX Locals community." Mr Jason Scott, Vice President of CSFB, said, "We are delighted to partner SGX and Man Financial to widen the user groups for our PRIMETradeSM trading technology."
