SGX Wins Industry Endorsement As 2013 “Clearing House Of The Year” And For “Most Innovative New Contract Launch”

Singapore Exchange (SGX) is pleased to receive industry recognition as the “Clearing House of the Year” and “Most Innovative New Contract Launch” at the Futures and Options World (FOW) Awards for Asia 2013 on 27 September 2013. 

Clearing House of the Year  

As a key clearing house and central counterparty in Asia, SGX provides dependable and efficient clearing of listed futures and options, as well as over-the-counter (OTC) commodity and financial derivatives.  In the financial year ending June 2013, SGX cleared a record 101 million contracts in listed futures and options, and is home to the dominant cleared market for iron ore swaps and options with a global market share of more than 90%. SGX is also the first Asian Clearing House to clear OTC traded financial derivatives comprising interest rate swaps and non-deliverable Asian foreign exchange forwards. 

SGX Clearing House is committed to international best practices and regulations on clearing and risk management.  It is among the first to be assessed under the new CPSS-IOSCO Principles for Financial Market Infrastructure. SGX’s status as a Qualifying Central Counterparty enables clearing banks to benefit from lower capital charges under Basel III.  SGX has also been granted specific no-action relief by CFTC enabling US customers to continue to clear OTC derivatives at SGX. 

SGX’s attractiveness as a centre for risk management is well-supported by its strong capital base and its anchor in Singapore’s AAA strength and financial stability.  We continue to seek formal recognition by CFTC and ESMA to ensure that customers and members in the US and EU continue to benefit from our clearing services under their respective new regulatory environments.   

Most Innovative New Contract Launch - Index and equities

SGX’s CNX Nifty Index Options received FOW’s “Most Innovative New Contract Launch” award for Asia 2013.   As the first Nifty Options contract to be launched outside of India, this contract, together with SGX Nifty Index futures, provide convenient and easy access for international participants to invest and manage the risk of the India capital markets.  The SGX Nifty Index futures is the only liquid offshore futures tracking the India equity market and currently holds a volume market share of more than 30% globally.   

SGX wishes to thank its member firms, customers and investors for their vote of confidence and support.