Singapore Exchange (SGX) announced the joining of Shanxi Securities International Futures Limited (SSIFL), a wholly-owned subsidiary of Shanxi Securities, today as a trading member of its derivatives market.
According to the press release shared with Finance Magnates, SGX’s derivatives market now has a total of 64 trading members and 26 clearing members. In June 2021, Singapore Exchange welcomed Synergy Futures Limited, the Hong Kong-based financial services provider, as a trading member.
Since the start of 2021, several leading financial firms have joined SGX’s derivatives market. The exchange also saw a substantial jump in its trading volumes during the first half of 2021. SGX’s FX futures volume spiked by nearly 30% in July 2021.
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Commenting on the recent joining of Shanxi Securities International Futures Limited, Pol de Win, Senior Managing Director, Head of Global Sales and Origination at SGX, said: “We are pleased to welcome SSIFL to our growing and robust ecosystem, as we expand our global membership base. Their strong client engagement and active participation in our market will certainly add to the rising activity in SGX’s derivatives market. With our multi-asset China franchise and customer network, we look forward to working with SSIFL to meet the investment and risk management needs of their clients.”
Shanxi Securities Co., Ltd, the parent company of SSIFL, provides various financial services, including securities brokerage, asset management and futures trading. “We are delighted that SSIFL is joining SGX’s community as a trading member. SGX’s derivatives market is playing an increasingly vital role in the region. Over the years, it has launched a series of derivatives contracts, including equity indexes, commodities, and currencies, whose prices have become regional benchmarks that are highly recognized by various market participants from all over the world. Becoming a member of SGX marks a milestone in our pathway to internationalization,” Qiao Jun Feng, Chairman of Shanxi Securities International Financial Holdings, said.
Earlier this year, Singapore Exchange partnered with Euroclear Bank to launch the Orchid bond structure in Singapore.