SGX expands forex footprint with additional Asian currency futures
The new futures contracts will be available in Q3.
Singapore Exchange today announced that it will add new Asian currency futures contracts on the Taiwanese dollar (TWD/USD) and Renminbi crosses (SGD/CNH, CNY/SGD, EUR/CNH) to expand its current suite of foreign exchange (FX) futures in the third quarter of 2015.
The move, while still subject to regulatory approval, is in line with global G20 regulatory reforms in the over-the-counter (OTC) derivatives sector to encourage trading on electronic platforms and exchanges, if appropriate.
Singapore is today the world’s third largest FX market and the primary price discovery centre for Asian FX trading.