SGX Widens Global Network To Include Cantor Fitzgerald, Rolls Out New Commodity and Derivative Products
SGX widens global network, rolls out new commodity and derivative products
- Extends membership to 7 key global players, including first Indian brokerage
- Launches gold deferred settlement contract, Nifty options, STOXX futures &
options on futures contracts
- Deepens collaboration with India’s National Stock Exchange (NSE)
11 March 2010, Singapore & USA (Boca Raton) – Singapore Exchange (SGX) today
announces additions to its membership network and fast-growing product suite, tapping
on the rising global interest in Asian equities, derivatives and commodities.
The new members given in-principle approval are:
Securities Trading and Clearing
1. Goldman Sachs Futures Pte Ltd
2. Standard Chartered Securities (Singapore) Pte Ltd
3. IIFL Securities Pte Ltd (subsidiary of India Infoline, one of the leading financial
services firms in India)
Securities Trading
1. MF Global Singapore Pte Limited
2. Cantor Fitzgerald (Singapore) Capital Markets Limited
Securities Clearing
1. Deutsche Bank AG
Derivatives Trading
1. Cantor Fitzgerald (Singapore) Capital Markets Limited
Derivatives Clearing
1. United Overseas Bank Ltd
Recent additions over the past 6 months include Fortis Bank Global Clearing N.V.,
Citibank N.A. and Taiwan-based Capital Futures Corporation.
At a briefing to international media at the FIA Conference in Boca Raton, USA, SGX CEO
Magnus Bocker said, “As part of the Asian gateway network, our new members would be
excellent conduit for their global clients looking for Asian theme products. SGX is
committed to provide efficient and direct market access, and to work closely with all our
members in the distribution of our Asian theme products.”
“Today, we have a comprehensive suite of securities and derivatives products for our
international investors. More choices can be expected in due course, as we explore other
asset classes such as Asian equities derivatives and fixed income. We also have plans to
broaden our OTC clearing services to include interest rate swaps and foreign exchange
forwards; and strengthen our commodities product spread.”
“With the increasing demand for OTC products to be exchange-traded and growing
investors’ appetite to trade Asian commodities products, it is timely for us to launch the
SICOM Gold Deferred Settlement contract, our second commodity contract for the year,
this month,” added Mr Bocker.
SICOM Gold Deferred Settlement contract (SICOM Gold) will commence trading on 30
March 2010. It is a unique contract that allows investors to gain exposure to the
international spot gold price without having to handle any physical delivery of gold nor
payment of the full notional contract value.
This announcement follows earlier joint-releases on further collaboration with India’s NSE
and the India Index Services & Products Limited (IISL) to introduce a series of options
based on India S&P CNX Nifty Index (Nifty) and related products such as CNX Nifty
Junior, CNX 100 and CNX Midcap indices. This is a significant step in strengthening our
Indian portfolio, facilitating access for our investors into the India market, one of Asia’s
largest economies.
Separately, SGX and Stoxx Ltd. (STOXX) have announced an agreement they have
signed to list Dow Jones EURO STOXX 50® Index futures and options on futures
contracts on SGX.
For further information, kindly contact:
Carolyn Lim
Corporate Communications
Tel : (65) 6236 8139
Email : carolyn.lim@sgx.com
Joan Lew
Corporate Communications
Tel : (65) 6236 8658
Email : joan@sgx.com
About Singapore Exchange
Singapore Exchange (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). SGX is
Asia-Pacific's first demutualised and integrated securities and derivatives exchange and
is listed on its own bourse. The exchange's stock is a component of benchmark indices
such as the MSCI Singapore's Free Index and the Straits Times Index (STI).
SGX aims to offer a highly trusted, comprehensive and efficient securities and derivatives
marketplace for raising capital, risk transfer, trading, clearing and settlement. SGX
facilitates the trading and clearing of commodity futures such as crude palm oil and
rubber and over-the-counter (OTC) derivatives such as forward freight agreements and
oil swaps. Through strategic alliances and partnerships with other exchanges around the
world, SGX is firmly positioned as an Asian Gateway.
For more information, please visit SGX website: www.sgx.com
About SICOM
SICOM, a company of Singapore Exchange Limited (SGX), is Singapore’s regulated
marketplace for the trading of commodity futures and the world’s price discovery centre
for natural rubber. The Monetary Authority of Singapore (MAS) is the regulatory authority
of SICOM.
SICOM lists Ribbed Smoked Sheet (RSS) 3 and Technically Specified Rubber (TSR) 20
rubber futures contracts.
For more information, please visit SICOM website: www.sicom.net About Cantor Fitzgerald
Cantor Fitzgerald, a leading global financial services firm at the forefront of financial and technological innovation, has been a proven and resilient leader for over 60 years. The Cantor Fitzgerald franchise includes capital market sales and trading, investment banking, and other businesses and ventures. Cantor Fitzgerald is one of 18 primary dealers authorized to trade U.S. government securities with The Federal Reserve Bank of New York.
A recognized leader in the global third market, Cantor’s equities sales and trading professionals provide solutions that address clients’ requirements for execution, return optimization and risk management, offering services in domestic and international equities, derivatives, convertibles and structured products, stock loan, and contracts for differences, as well as research.
A world-class dealer across a broad spectrum of fixed income products, Cantor offers services in repo and securities lending, mortgage-backed and asset-backed securities, corporate bonds, interest rate products, agencies, SBA securities and structured products, as well as fixed income rates strategy.
Cantor’s investment banking division focuses on providing capital raising and advisory services to growth-oriented companies. The group’s structuring and distribution capability is focused on addressing innovative solutions to complex issues and challenges for clients across the globe.
Cantor Fitzgerald’s 1,400 employees serve clients through 35 locations, including major financial centers around the world in the Americas, Europe, Asia/Pacific, and the Middle East.
For more information, please visit www.cantor.com.
Note to editors: Cantor Fitzgerald, L.P. is the parent company of Cantor Fitzgerald & Co.
Contact
Melanie Gordon-Felsman
212 610-2314
mgordon@cantor.com