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Of these new member companies, DMG & Partners Securities Pte Ltd was admitted as a Commercial Associate Member (Introducing/Executing Broker) of Singapore Exchange Derivatives Trading (SGX-DT) on 18 October 2000.
The other six have been granted approval-in-principle to Singapore Exchange Securities Trading (SGX-ST), SGX-DT and/or Singapore Exchange Derivatives Clearing (SGX-DC). They are:- SG Securities (Singapore) Pte Ltd as a Clearing Member of SGX-ST, SGX-DT and SGX-DC; HSBC Securities (Singapore) Pte Ltd as a Clearing Member of SGX-ST; Cantor Fitzgerald Singapore Limited as a Clearing Member of SGX-DT and SGX-DC; Fraser Securities Pte Ltd as a Commercial Associate Member (Introducing/Executing Broker) of SGX-DT; BT Brokerage and Associates Pte Ltd as a Commercial Associate Member (Introducing/Executing Broker) of SGX-DT; and Flamingo Holdings Pte Ltd (to be renamed UBSWA Futures Pte Ltd), as a Corporate Non-Clearing Member of SGX-DT.
With the admission of these new companies, SGX will have 33 Clearing Members in its securities market, while its derivatives market will have 31 Corporate Clearing Members, 17 Corporate Non-Clearing Members and 18 Commerical Associate Members.
"We are pleased that our initiatives in opening access have succeeded in attracting new members who will bring greater liquidity for our markets. We welcome these companies to the SGX family of corporate members who collectively provide a global network of broking and financial services," said SGX CEO, Thomas Kloet.
SGX had earlier announced on measures to further open access to its markets from 1 July 2000. These measures include (i) inviting applications for new members of the securities market; and (ii) allowing a single legal entity to be a member of both the securities and derivatives markets.
