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Singapore Exchange (SGX) today said it has been named “Exchange of the Year” for its derivatives and clearing businesses.
SGX received the “Derivatives Exchange of the Year” award from Asia Risk magazine while SGX’s AsiaClear was named “Exchange of the Year” by Energy Risk magazine.
The awards are in recognition of SGX’s innovative products and services. On 17 June, the world’s first Nikkei Dividend Index Futures began trading on SGX. Up until end-October, JPY 53 billion notional has been traded in the Nikkei Dividend Index Futures, resulting in JPY 20 billion of open interest. The exchange also has the world’s only offshore futures contract for the China A-share market, the FTSE Xinhua China A50 Index Futures, which tripled in volume traded in October to 143,061 contracts – representing a notional US $2.97 billion - from a month earlier. As at end-October, the A50 futures achieved open interest of 21,102 contracts (approximately US$432 million notional).
SGX was also at the forefront of clearing for OTC products during the year. For instance, it has a 90% global market share for the clearing of iron ore swaps. SGX is also planning to offer clearing of financial derivatives such as interest-rate swaps and currency forwards.
SGX was also awarded the ETF Exchange of the Year award by Republic Partners. One of the first in Asia to offer an ETF listing platform, SGX continues to take the lead in the industry including offering Asia’s most internationalized and diverse range of ETFs. In the year to October 2010, ETF trading at SGX grew 43% to S$5.34 billion while the number of ETFs increased to 74.
Mr Chew Sutat, Head of Corporate & Market Strategy of SGX, said, “These awards underscore SGX’s international and innovative product range and its position as a leading listing, trading and clearing venue. Our customers can expect even more diverse products in the coming months including the S&P CNX Nifty stock index options and the EURO STOXX 50 Index futures and options.”
