Singapore Stock Exchange[SGX]- SINGAPORE Exchange (SGX) has opened a derivatives office in Hong Kong
to deepen its presence in the Greater China region, the market operator
announced on Monday.
The Chinese market took on greater importance for SGX in late 2014 as
the start of the Shanghai-Hong Kong Stock Connect trading link drove up
interest in SGX's China A50 futures. Those contracts were seen as a
hedging instrument and as a proxy to a market that was expected to
benefit from the easing of access to the Shanghai stock market.
Single-day volume on the China A50 futures hit a high of 594,551 contracts in January.
Chew Sutat, executive vice-president of SGX, said that the exchange's
Hong Kong operations have been growing partly due to products that
include contracts for gold, iron ore, offshore renminbi and other
foreign exchange pairs.
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