12 Hong Kong brokers trade futures on Singapore exchange
Two bourses agreed to cooperate in December 2013
A dozen Hong Kong brokers have joined Singapore Exchange (SGX) as futures trading members since its data centre tie-up with Hong Kong Exchanges and Clearing two years ago, SGX executive vice-president Chew Sutat said in Hong Kong on Tuesday.
“The link-up with the HKEX data centre since July 2014 has made it much faster and easier for investors in Hong Kong to trade SGX products,” he said.
The two bourses signed a memorandum of understanding on cooperation in December 2013 that led to the data centre tie-up.
The trading volume from Hong Kong investors has been high and similar to that from the US
Chew said the 12 Hong Kong brokers that had become remote members of SGX, including Quam, Bright Smart and Wing Fung, could trade Singapore futures products for Hong Kong investors directly. Quam can also trade equities listed in Singapore.
Besides the 12, Chew said there were many Hong Kong brokers which were not members of SGX but who traded through other members of the bourse.
“The trading volume from Hong Kong investors has been high and similar to that from the US,” Chew said.
SGX launched yuan futures early last year and Chew said China-related products were popular.