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SINGAPORE, July 13, 2012 - (ACN Newswire) - Singapore Exchange (SGX) is offering SGX S&P CNX Nifty Options from 16 July 2012.
This latest product partnership between SGX and National Stock Exchange of India (NSE) enhances offshore investors' access to the Indian economy. The Nifty Options add to SGX's suite of Asian equity derivatives, which include SGX S&P CNX Nifty futures, the dominant Indian product for international participants. SGX, the world's biggest offshore market for Asian equity derivatives, accounts for approximately 25% of Nifty futures trading globally.
In the first 6 months of 2012, SGX Nifty futures traded 7.4 million contracts, averaging daily volume of 59,358 contracts. Open interest stood at 240,317 contracts as at end June 2012.
Market-makers have signed up to provide liquidity from the start of trading of the Nifty Options. These are BNP Paribas, Optiver Australia, Susquehanna International Group, and Timber Hill.
"We are delighted to bring to international investors Nifty Options, yet another NSE product based on the benchmark Nifty index. Investors coming to SGX will find in the Nifty Options, together with the Nifty futures and Indian ETFs, a convenient and easy way to invest in the Indian economy and manage their risks," said Mr Michael Syn, head of derivatives at SGX.
"As a leading international market making group, Optiver Australia is excited to be at the forefront of the latest SGX product initiative as a market maker. The introduction of Nifty Options on SGX increases the trading opportunities for market participants and is a positive development for the options community. We are confident that Optiver Australia will be a key contributor towards the growth of Nifty Options on SGX," said Mr Daniel Weinberg, Head of Business Development, Asia Pacific, Optiver Australia.
Contact:
Joan Lew
Tel: +65 6236 8658
Email: joan@sgx.com
Carolyn Lim
Tel: +65 6236 8139
Email: Carolyn.lim@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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