SGX opens US office in Chicago

SINGAPORE Exchange (SGX) has expanded its international footprint with the opening of SGX America in Chicago.

Having a presence in the US will enable it to better serve a growing client base in this region and meet the rising international investor appetite to access and risk-manage Asian exposure, it said on Friday.

SGX chief executive officer Loh Boon Chye said: "This is an important milestone in SGX's international expansion strategy and reinforces our status as Asia's most-connected exchange.

"SGX's knowledge of the Asian markets, and the diversity of our Asia-linked futures and options will resonate with investors in North America who are increasingly looking East for growth opportunities across asset classes. A physical presence in the US will also better enable us to develop connectivity with the world's largest equities and fixed income market."

SGX operates a pan-Asian multi-asset marketplace that provides international investors with exposure to 95 per cent of Asia's GDP through the world's most liquid offshore market for the benchmark equity indices of China, India, Japan and Asean.

SGX America will enhance access for investors in North America to risk management solutions and price discovery tools that also span foreign exchange and commodities.

"The opening of SGX America complements the global nature of SGX's products and platforms and is a logical step following the extension of our now round-the-clock trading and clearing hours," said SGX head of derivatives Michael Syn.

"Given the size and depth of the market, spanning financial institutions, funds, trading firms and Futures Commission Merchants, the US is an important market for us, both for our financial and commodity derivative products," he added. "Chicago is home to a vibrant trading community with a long history in the global futures and options market, making it a natural first base for us."