Bank said that it would assist in the widening investigations on alleged currency rate manipulations. Nonetheless, Singapore experienced substantial growth in its FX volumes to the tune of 44 based on over the last three years, up from 266 billion in April 2010 to 383 billion during the same period in 2013, as per the BIS survey of central banks. Clearing and settlement, battle for clearing supremacy, singapore Exchange (SGX) became the first of the major clearers to launch an OTC Asian FX forwards clearing business in October. Join the iFX expo Asia and discover your gateway to the Asian Markets. If you have one already please sign. SGX, exchange traded FX just got a boost by one of the worlds innovative bourses, the Singapore Exchange which announced today that it will be adding six new currency futures contracts for both deliverable and non-deliverable Asian currencies, including AUD/USD, AUD/JPY, USD/SGD, INR/USD, KRW/USD and. This follows regulatory changes in the US under the Dodd-Frank Act, which requires that US customers clearing swaps do so through a clearing house registered with the cftc as a derivatives clearing organization and through clearing members who are futures commission merchants. The agreement for a new initiative was reached at the 10th Joint Council for Bilateral Cooperation (jcbc where China extended its Renminbi Qualified Institutional Investor (rqfii) to Singapore which allows qualified Singapore-based institutional investors to funnel offshore RMB from Singapore into Chinas securities markets. . Mr Ravi Menon, MD, MAS, in comments from the event"d by the media, Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS emphasized the positive ties between Singapore and China this year, Financial ties between the two countries have deepened considerably and. Remote Membership Class from SGX for. One example of a local provider with tremendous history in Singapore is DBS, originally setup as Development Bank of Singapore in 1964 and was a catalyst for the countrys early economic development, DBS Bank now has 4 million customers in the region and.
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We will be adding more currency pairs to our Asian FX suite over the next 12 to 18 months. While this proposal is initially aimed at meeting US regulatory requirements, SGX Derivatives Clearing may admit members of other jurisdictions as remote clearing members in the future, according to the release. In a separate announcement today on the SGX corporate website, demonstrating the groups speed with regards to intra-market and cross-border regulatory cooperation, the exchange announced that it is consulting the market on a new remote membership class, which will enable futures commission merchants registered with. The initial launch is set for November 11th and provides the existing exchange members the ability to keep related clearing and settlement activity within the exchange, along their existing securities related businesses via sgxclear and Calypso, the two systems used at SGX-DC (for securities and. Singapore recently overtook the lead in Asia with.7 of Global FX market share, just slightly over Japan which had.6 in April 2013, and thereby becoming coinbase sell bitcoin for ethereum the worlds 3rd- largest trading center according to the latest BIS Triennial Survey of foreign exchange trading activity. Vine concluded, icap Futures Options expects substantial regional demand for these products and is happy to be working with the Singapore exchange in its continuing efforts to provide market place liquidity and reduced counterparty risk within the reformed global regulatory environment. SGX set to launch FlexC FX Futures in August, with the aim of combining the best that OTC and futures have to offer, clearing and settlement, sGX is launching FX futures solution. This will shorten settlement cycles and simplify post-trade processes, awards, fX Week Asia Awards: the winners. Trading on-exchange picked up as US-China trade tensions flared and Fed hiked rates, people, martin becomes head of Apac at State Street. This year up to, SGX saw an 86 increase in average month-end open interest, further augmenting its position as a leading center for the management of open exposures by global investors and risk managers, as per its corporate website.