Singapore Exchange, Asia's leading exchange and clearing house, is pleased to receive strong industry recognition for its service to Asian derivatives markets
SINGAPORE, Sept 26, 2014 - (ACN Newswire) - SGX was named "Asia Pacific Exchange of the Year", "Asia Central Counterparty (CCP) of the Year", and "Clearing House of the Year". SGX also won the "Best Innovation by an Exchange" for its SGX Iron Ore Futures and "Best New Contract in Currency" for its INR/USD Futures contract. These awards were presented respectively in London and Singapore.
Magnus Bocker, CEO, SGX said, "We are honored by the industry endorsements and thankful for the support by our global partners and customers. These awards are testaments to SGX's strengths and unique advantage in the global derivatives and commodities marketplaces. As Asia's leading exchange and clearing house, we will continue to stay ahead with our innovativeness and uphold a trusted platform for global investors to fulfill their growth ambitions and manage their risk exposures in this region."
Details of the awards as follows:-
- Asia Pacific Derivatives Exchange of the Year
SGX received the "Asia-Pacific Derivatives Exchange" award from the GlobalCapital Derivatives on 18 September at the Landmark Hotel in London. SGX emerged as the clear winner in this category with strong affirmation by international investors voting for its innovative suite of derivatives offerings and commodities solutions.
- Asia Central Counterparty (CCP) of the Year
The industry recognised SGX as a global trading hub that has "remained keenly cognizant and responsive to the shifting regulatory requirements in the international derivatives marketplace. It also reinforces SGX's standing as Asia's leading exchange for clearing of financial and commodity products.
SGX is the first and only Asian CCP to be recognised by the US Commodity Futures Trading Commission (CFTC) as a derivatives clearing organisation in December 2013. This status enables US companies to comply with the clearing requirements of the Dodd-Frank Act by clearing their swaps onshore through SGX. International investors have been able to efficiently execute and clear their derivatives trades via SGX platform without interruptions.
This Asia CCP of the Year award was given at the 7th Energy Risk Awards Asia 2014 held in Singapore on 23 September 2014.
- Clearing House of the Year
SGX was named "Clearing House of the Year" at the FOW Awards for Asia 2014 event, held in Singapore on 25 September 2014. This award underscores SGX's position as the leading Asian exchange with the highest international standards and practices which investors can rely on for their business and risk management needs.
- SIMEX Founding Chairman Earns Lifetime Achievement
Celebrating its 30th year in international derivatives trading, SGX is proud that its founding chairman of the former Singapore International Monetary Exchange (SIMEX), Mr Ng Kok Song, has received the Lifetime Achievement Award at this year's FOW Awards for Asia. Mr Ng was instrumental in establishing SIMEX as the first Asian exchange to offer international derivatives trading then.
- Best Innovation by an Exchange - Iron Ore Futures
SGX Iron Ore futures has won the "Best Innovation by an Exchange" category by the FOW Awards for Asia for being a product that "meets the regulatory reform sweeping the market in an innovative way". SGX's suite of iron ore and steel products provide market participants with a wide range of trading strategies and risk management solutions to manage their exposure in the marketplace.
SGX has been the leading international iron ore derivatives market, clearing over 90% of all cleared swaps, options and futures. SGX iron ore derivatives hit a new record of 1.4 million contracts (representing 409 million metric tonnes of iron ore, approximately 50% of the relevant physical seaborne market) traded in the 12-month period between July 2013 and June 2014. This is a 239% growth over the previous 12-month period.
- Best New contract in the Currency category - INR/ USD Futures
Under the Currency category for the "Best New Contract" award by the FOW Awards for Asia 2014, the SGX Indian Rupee (INR/USD) Futures stood out as the clear winner.
In November 2013, SGX introduced its first suite of six FX Futures pairs to allow investors to manage their FX risk on the same venue as their equity index exposure. These six pairs are the AUD/USD, AUD/JPY, USD/SGD, INR/USD, KRW/USD and KRW/JPY, which have registered more than US$7 billion in aggregate notional value traded since launch. In Sept 2014, SGX introduced another new set of Asian FX contacts on Chinese Renminbi ("RMB") (USD/CNH, CNY/USD), Japanese Yen (USD/JPY) and Thai Baht (THB/USD), to further augment its successful suite of FX offerings. SGX's Indian Rupee currency futures has registered over US$7 billion in notional value traded since its launch in November 2013.
About Singapore Exchange (SGX)
Singapore Exchange (SGX) is the Asian Gateway, connecting investors in search of Asian growth to corporate issuers in search of global capital. SGX represents the premier access point for managing Asian capital and investment exposure, and is Asia's most international exchange with more than 40% of companies listed on SGX originating outside of Singapore. SGX offers its clients the world's biggest offshore market for Asian equity index futures, centred on Asia's three largest economies - China, India and Japan.
In addition to offering a fully integrated value chain from trading and clearing, to settlement and depository services, SGX is also Asia's pioneering central clearing house. Headquartered in Asia's most globalised city, and centred within the AAA strength and stability of Singapore's island nation, SGX is a leading Asian counterparty for the clearing of financial and commodity products. For more information, please visit www.sgx.com.
Source: Singapore Exchange (SGX)
Contact:
Carolyn Lim Marketing & Communications Tel: +65 6236 8139 Email: Carolyn.lim@sgx.com Joan Lew Marketing & Communications Tel: +65 6236 8658 Email: Joan.lew@sgx.com
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