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SGX ASIACLEAR GAINS OVER 100 COUNTERPARTY ACCOUNTS AND EXCEED US$1.2 BILLION IN VALUE OF TRADES CLEARED
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Singapore Exchange Limited (SGX) today announced that SGX AsiaClear® has secured over 100 counterparty accounts and exceeded US$1.2 billion in value of trades cleared.
In recognition of its market participants, SGX AsiaClear will be presenting awards to its top over the counter (OTC) Inter-Dealer Brokers and Clearing Members as it celebrates its first anniversary with the industry tonight.
“SGX AsiaClear’s growth has been gaining pace since its inception in May 2006. This has accelerated in 2007, when calendar year-to-date activity comprises 79% of the total value cleared since its launch. This trend can be expected to continue with the increasing number of counterparties,” said Mr Seck Wai Kwong, Senior Executive Vice President, SGX. “We intend to capitalise on this momentum to step up growth through further marketing and education efforts in Asia and Europe.”
With its growing pool of Asia-based trading counterparties, SGX AsiaClear is also beginning to see more interest from European players who are keen to trade with Asian partners. SGX AsiaClear’s unique suite of products, such as Balance-of-Month contracts on Fuel Oil and Gasoil, has also contributed to the rising market interest.
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Issued on: 6 June 2007 |
