Mr Loh Boon Chye, chief executive officer of SGX, said in a statement that record trading activity in the local bourse’s key foreign exchange (FX) futures contracts and traction in its fixed income business reaffirmed its diversification strategy into those asset classes.
“Looking ahead, we expect the momentum in market activity to continue and return to higher levels of past years. We have made considerable progress in delivering on our priorities,” he said.
“Just last week, we opened our United States office in Chicago and signed a collaborative listings agreement with Nasdaq. These are part of our efforts to grow a global client base and increase international participation across asset classes in our markets. We are seeking opportunities to collaborate with other exchanges to expand our businesses, as well as evaluating investments and partnerships to grow our FX, fixed income and commodities businesses.”
Mr Stephen Innes, head of trading (APAC) at OANDA, said SGX’s recent steps to boost its appeal as a listing destination is a good one that allows the bourse to expand its global client base and attract Asian tech firms.
“Teaming up with Nasdaq encourages broader asset classes to be available to local investors. SGX branding themselves with other exchanges opens it up to a broader base of clients and investors and allowing them to recognize and invest in Singapore companies. It is definitely moving in the right direction.”
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