SGX unveils three new Asian forex futures contracts

Say hello to the yuan, yen, and baht.

The Singapore Exchange today revealed that is adding new Asian foreign exchange futures contracts on the Chinese Renminbi, the Japanese Yen, and Thai Baht, to further augment its successful suite of FX offerings. 

The new Asian FX contracts will be available for trading from 20 October 2014. The expanded suite of SGX FX futures offerings will provide an avenue for investors to efficiently manage their Asian currency risks via a transparent, margin-efficient and well-regulated marketplace.

SGX also revealed that the Bank of China (BOC) will be the pioneer market-maker for its RMB futures and welcomes BOC as SGX’s first Chinese settlement bank for its derivatives market.

This development underpins the partnership agreement signed between SGX and BOC in September last year.

Accordign to SGX CEO Magnus Böcker, “FX, as an asset class, is highly complementary to SGX’s equities and commodities franchise. The enhanced SGX Asian FX suite widens the window for even more investors to tap on the growth opportunities across major Asian markets and manage their currency exposures at the same time. The SGX RMB futures complements the range of RMB-denominated investment products in Singapore, and will further boost the growth and deployment of the RMB deposits pool in Singapore.”