Singapore

SGX Asian index futures contracts granted CTFC approval

US investors can now trade the Singapore Exchange’s (SGX) latest suite of Asian index futures: SGX MSCI Thailand Index Futures, SGX-PSE MSCI Philippines Index Futures and SGX MSCI India Index Futures.

SGX’s newest three index futures contracts, which are based on the MSCI Thailand Index, the MSCI Philippines Index and the MSCI India Index, have been certified by the US Commodity Futures Trading Commission (CFTC) and can now be directly offered and traded in the US.
 
The CFTC certification is a timely complement to SGX’s recognition as the first Asian clearing house to be approved as a derivatives clearing organisation by the CFTC.  
 
The listing of Asian index futures on SGX offers investors an alternative trading platform to the over-the-counter market, and provides the transparency of an exchange-traded instrument with assurance of central clearing. Since their launch on 25 November 2013, the three new futures contracts have traded a notional value in excess of USD22m.
 
“SGX is one of the most progressive exchanges in Asia and has a track record of success with derivative products, especially in emerging markets. We expect the three new MSCI Futures for Thailand, Philippines and India to appeal to a wide and diverse range of end users, and we are positive about the introduction of these key Asian futures contracts,” says Kevin Ho, head of futures, Asia Pacific, Barclays Capital.
 
“With the CFTC’s certification, market participants in the US can now confidently trade into emerging Asia’s markets in US dollars. SGX’s comprehensive suite of Asian index futures offers international investors deeper and more extensive reach into 90 per cent of Asia’s economies, providing customers a single point of access with the benefits of efficient portfolio allocation and risk management,” says Michael Syn, head of derivatives, SGX.

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