EBS, SGX Partner for Asian FX Derivatives
Singapore Exchange to work with Icap subsidiary on new products, market access.
FX futures listed by SGX will be available to trade through EBS, with clearing taking place at the South East Asian bourse, available for large trades. Subject to regulatory approvals, the two businesses plan to begin operations in the third quarter of 2015.
EBS is also considering the establishment of a matching engine in Singapore, hosted by SGX, and the two will explore product development in the future.
"Our strategic collaboration with SGX is an exciting development which combines our highly successful EBS offering with the futures capability of SGX," says Michael Spencer, Group CEO at Icap. "It also strengthens Icap's commitment to Singapore, a leading player in the Asian financial markets, and the third-largest FX center in the world."
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