SGX EURO STOXX 50 futures to debut in Asia

The agreement is expected to provide one-stop access to Asian and European equity market aside from trading opportunities in SGX and Eurex.

Singapore Exchange (SGX) and Eurex, Europe’s largest derivatives exchange, are partnering to launch the SGX EURO STOXX 50 Index futures and options on futures for the first time in Asia, according to a joint release by the two exchanges and the global index provider.

Mr. Chew Sutat, Head of Corporate & Market Strategy at SGX said, “The SGX EURO STOXX 50 futures and options on futures contracts will complement our suite of Asian products, providing global customers with one-stop access to Asian and European equity markets as well as trading opportunities between SGX and Eurex. Customers also will have first-mover advantage to react to weekend or overnight European and US market news and manage their European exposures during Asian hours.”

Mr. Michael Peters, member of the Eurex Executive Board said, “Through our cooperation, we extend the user base of Europe’s most liquid index derivatives contract. This will result in new trading and hedging opportunities globally and should further increase the liquidity of this benchmark product. Our partnership will also strengthen our position in Asia as a global exchange.”

The EURO STOXX 50 Index derivatives traded at Eurex are euro-denominated. The futures recorded an average daily volume (ADV) in the first half of 2010 of more than 1.6 million contracts while the options had an ADV of another 1.2 million contracts.

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