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SINGAPORE, June 7, 2012 - (ACN Newswire) - Singapore Exchange (SGX) today announced it will launch dual currency trading for ETFs on 15 June, enabling investors to trade foreign-currency denominated ETFs in Singapore dollars. The move will provide investors with trading flexibility in accessing ETFs denominated in a foreign currency.
SGX worked with issuers BlackRock's iShares and CIMB-Principal Asset Management to offer the following ETFs with a secondary trading counter in Singapore dollars:
-- CIMB ASEAN 40 ETF
-- CIMB S&P Ethical Asia Pacific Dividend ETF
-- iShares Barclays Capital Asia Local Currency 1-3 Year Bond Index ETF
-- iShares Barclays Capital Asia Local Currency Bond Index ETF
-- iShares Barclays Capitial USD Asia High Yield Bond Index ETF
-- iShares J.P. Morgan USD Asia Credit Bond Index ETF
-- iShares MSCI India Index ETF
The ETFs will be fungible, i.e. an investor can buy and/or sell the ETF in US or Singapore dollars regardless of the currency in which it was first bought and/or sold. All the above ETFs are cash based full replication ETFs.
Mr Nels Friets, Head of Securities at SGX said: "With this new offering from SGX, investors can enjoy trading flexibility and cost efficiency while benefitting from investing in ETFs. Issuers will also benefit from a wider pool of investors as those who prefer to trade in Singapore dollars enter the market. We are delighted to have the support of BlackRock and CIMB-Principal in offering investors increased access to our wide suite of ETFs."
SGX introduced dual currency trading for securities on 22 March 2012. Hutchison Port Holdings Trust was the first listed security to launch dual currency units.
For more information, visit www.sgx.com/dualcurrency or call CDP hotline at +65 65357511.
Contact:
Loh Wei Ling
Communications
Tel: +65 6236 8157
Email: loh.weiling@sgx.com
Joan Lew
Communications
Tel: +65 6236 8658
Email: joan@sgx.com
Topic: New Product
Source: Singapore Exchange (SGX)
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
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