SGX SiMSCI futures, based on the MSCI Singapore Free Index, began trading on SGX-DT on 7 September 1998. The MSCI Singapore Free Index is a market-capitalization equity index of 30 securities listed on the Singapore Exchange Securities Trading (SGX-ST). It currently represents about 60% of the total market capitalisation of Singapore. The index has been calculated since 1 January 1998.
Ang Swee Tian, President, Singapore Exchange, said: "The SiMSCI futures already offer a liquid futures market with around 2,100 contracts being traded every day. The CFTC approval will open up this important market to US based institutions."
Commenting, Henry Fernandez, President of MSCI Inc. said: "A large number of US based institutions benchmark their international equity assets to MSCI indices. CFTC approval of SiMSCI futures will give these investors an opportunity to trade in derivative contracts on the popular MSCI Singapore Free Index."
