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Singapore Exchange Limited (SGX), Asia-Pacific's first demutualised and integrated securities and derivatives exchange, launched SGX AsiaClear®, its OTC Clearing Business and Facility for energy and freight derivatives, in May 2006.
SGX was inaugurated on 1 December 1999, following the merger of two established and well-respected financial institutions -- the Stock Exchange of Singapore (SES) and the Singapore International Monetary Exchange (SIMEX). On 23 November 2000, SGX became the first exchange in Asia-Pacific to be listed via a public offer and a private placement. SGX is also at the forefront of exchanges globally in attracting international issuers and is rapidly emerging as Asia's offshore risk management centre for international derivatives.
In response to Asia’s over-the-counter (OTC) market needs, SGX AsiaClear® offers a growing network of Asia-based counterparties to facilitate OTC trading and clearing activities, to enhance credit and risk management and to increase OTC operations and position-netting efficiencies.
The SGX AsiaClear® Facility, Asia’s first and only OTC clearing platform, provides immediate 20-hour central counterparty clearing for OTC oil swaps and forward freight agreements. OTC market participants can conveniently use their OTC inter-dealer brokers to register trades electronically on the SGX AsiaClear® Trade Registration System for clearing and netting under accounts maintained with SGX OTC Clearing Members, many of which are international and bank-related institutions.
Clearing for the SGX AsiaClear® Facility is by the Singapore Exchange Derivatives Clearing Limited, the SGX Clearing House for derivatives, which is licensed and regulated by the Monetary Authority of Singapore (MAS). |
