Simex sets record, receives top award

The derivatives exchange in Singapore notched up record turnover last year on the back of the region's wild market swings.

The Singapore International Monetary Exchange (Simex) said yesterday that volume jumped 15.7 per cent from 1997 to 27.86 million traded contracts.

It also announced it had been named Derivatives Exchange of the Year by International Financing Review magazine for a record fourth time.

The exchange also won the award in 1989, 1992 and 1993.

'It is a rare honour to receive this award for a fourth time,' Simex chairman Victor Liew Cheng San said.

'We will continue to work towards enhancing our position as Asia's leading international exchange.' Germany's Deutsche Terminborse won the award last year.