SINGAPORE, July 6, 2012 - (ACN Newswire) - Singapore Exchange (SGX) announced today it is ready to list, quote, trade, clear and settle securities denominated in Chinese Renminbi (RMB).
The initiative enhances opportunities for issuers and investors keen to participate in the internationalization of the RMB and the robust Chinese economy. SGX's addition of RMB securities trading complements the offshore RMB bonds already listed on the exchange. SGX is also the world's first exchange to offer the clearing of OTC FX forwards for RMB.
Issuers listing RMB securities on SGX can also choose to offer dual currency trading, giving their investors the flexibility to trade the security either in RMB or Singapore dollars.
"SGX, as the Asian Gateway, is committed to being the exchange of choice for issuers with RMB fund-raising needs and for investors who are keen to participate in the China growth story. The listing and trading of RMB securities on SGX will also extend Singapore's position as an offshore RMB centre," said Mr Magnus Bocker, CEO of SGX.
The initiative expands the suite of foreign currencies supported by SGX which currently includes the Australian Dollar, Hong Kong Dollar and US Dollar.
About Singapore Exchange (SGX)
Singapore Exchange (SGX) is the Asian Gateway, connecting investors in search of Asian growth to corporate issuers in search of global capital. SGX represents the premier access point for managing Asian capital and investment exposure, and is Asia's most international exchange with about 40% of companies listed on SGX originating outside of Singapore. SGX offers its clients the world's biggest offshore market for Asian equity index futures, centred on Asia's three largest economies - China, India and Japan.
In addition to offering a fully integrated value chain from trading and clearing, to settlement and depository services, SGX is also Asia's pioneering central clearing house. Headquartered in Asia's most globalised city, and centred within the AAA strength and stability of Singapore's island nation, SGX is a leading Asian counterparty for the clearing of financial and commodity products. For more information, please visit www.sgx.com.
Loh Wei Ling
Tel: +65 6236 8157
Tel: +65 6236 8139
July 6, 2012 08:00 HKT/SGT
Source: Singapore Exchange (SGX)
Topic: Production report
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network
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