SGX, Shanghai exchange to develop commodity products

SINGAPORE Exchange (SGX) is in a tie-up with the Shanghai Futures Exchange to develop commodity derivatives for both markets.

The two exchanges signed a memorandum of understanding to develop derivatives for energy, metals, chemicals and commodity indexes, SGX said in a statement yesterday, without giving further details.

"Shanghai Futures Exchange can leverage SGX's connectivity and infrastructure to reach out to international participants. This partnership marks the start of an exciting journey and further boosts SGX's long-term commitment to China," said Magnus Böcker, SGX's chief executive officer.