Mon, July 26, 2010
Business > Markets

Singapore Exchange, Eurex partner to launch products in Asia

2010-07-26 10:05:40 GMT2010-07-26 18:05:40 (Beijing Time)  Xinhua English

SINGAPORE, July 26 (Xinhua) -- The Singapore Exchange (SGX) announced on Monday that it is partnering Eurex, Europe's largest derivatives exchange, to launch the SGX EURO STOXX 50 Index futures and options on futures for the first time in Asia.

The partnership is based on a licence agreement between global index provider STOXX Limited and SGX, local radio 938 Live reported.

SGX will list U.S.-dollar denominated EURO STOXX 50 Index futures and options on futures in the second half of this year, subject to approval by the country's central bank.

SGX and Eurex will also jointly market and promote the U.S.- dollar based contracts as part of collaboration efforts between the two exchanges.

The new partnership will enable customers to have first-mover advantage to react to weekend or overnight European and U.S. market news. This would help them to manage their European exposures during Asian hours as well.

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