Singapore Exchange Limited Admits First Proprietary Trading Member Firm Formed By SGX Traders

Singapore Exchange Limited (SGX) today announced the admission of The Arbitrage Project Pte Ltd, the first to be formed by SGX Traders, as a Commercial Associate Member - Proprietary Trading (CAM-PT) in its derivatives market.

The Arbitrage Project will begin trading on 9 February 2004.

With a CAM-PT membership, SGX Traders and shareholding investors will be able to combine their experiences, talents and financial resources to expand their scope of derivatives trading and grow their proprietary trading business beyond their current individual levels.

Mr Gan Seow Ann, Executive Vice President and Head of Markets at SGX, said, "SGX welcomes The Arbitrage Project and looks forward to their participation in our marketplace. This is a positive step towards developing an active and diverse proprietary trading community in Singapore, which will help enhance the liquidity of our derivatives market."

Mr David Tan, Director of The Arbitrage Project, said, "We are excited by the opportunities our membership presents in developing a proprietary trading business at SGX. We intend to increase our participation in SGX's derivatives market by growing our presence in both Interest Rate and Index products."