Singapore Exchange (SGX), announced today that Synergy Futures Limited, the Hong Kong-based financial services provider, has joined SGX as a trading member of its derivatives market.
According to the official announcement shared with Finance Magnates, the derivatives market of SGX has 63 trading members along with 26 clearing members. Recently, the exchange welcomed Haitong International Singapore as a clearing member in its securities and derivatives market.
Synergy Futures is providing services in trading and risk management. The company is licensed by the Securities and Futures Commission of Hong Kong to deal in securities and futures contracts.
Commenting on the latest announcement, Chew Sutat, Head of Global Sales and Origination at SGX, said: “We are delighted to welcome Synergy Futures as a new member of our growing derivatives marketplace. This extends our strong membership base across Greater China and supports the rising demand for Asian market derivatives. We look forward to working closely with Synergy Futures to meet their clients’ risk management and investment needs.”
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Earlier this week, Singapore Exchange announced the appointment of Pol de Win, the former Managing Director at Goldman Sachs Hong Kong, as a new Head of Global Sales and Origination. Pol de Win will take charge from 1 July 2021. Chew Sutat will depart from SGX after spending more than fourteen years at the exchange.
The Hong Kong-based financial services provider is currently offering various services related to futures, securities and options to global institutional and professional investors. The company is planning to use new technologies including Blockchain and Artificial Intelligence for efficient trading systems.
“We are pleased to be a member of Singapore Exchange. SGX’s equity index and iron ore products are attractive to investors, and Synergy Futures Limited will use our extensive experience in algorithmic trading to meet all our clients’ needs,” Qin Tian, Executive Director of Synergy Futures mentioned in the official press release.