Singapore Exchange Limited
From MarketsWiki
| Singapore Exchange Limited | |
| |
| Founded | 1999 |
|---|---|
| Headquarters | Singapore |
| Key People | Hsieh Fu Hua, CEO |
| Products | Cash equities, futures and options in equity indexes and interest rates |
| Web site | http://www.ses.com.sg/ |
The Singapore Exchange (SGX) is an integrated electronic securities and derivatives platform, formed in 1999 from the merger of the Stock Exchange of Singapore (SES) and the Singapore International Monetary Exchange (Simex).
The SGX operates Asia's third-largest stock exchange by market capitalization together with a derivatives platform listing equity index and interest-rate products, together with a new commodities operation and an over-the-counter (OTC) clearing business.
The exchange, which demutualized and listed on its own bourse in December 2000, hosts the benchmark Straits Times equity index and has pursued alliances and investments including a stake in the Bombay Stock Exchange and a partnership with the Tokyo Stock Exchange.
History
The SES was formed in 1973 when the Stock Exchange of Malaysia and Singapore separated. The Simex was created in 1983 following the reorganization of the 15-year old Gold Exchange of Singapore.
In March 2007, the SGX paid $42.7 million for a 5 percent stake in the Bombay Stock Exchange[1]. On June 15, 2007, the Tokyo Stock Exchange announced it had paid Y37.4 billion ($303 million) for a 4.99 percent stake in the SGX, with plans to raise it to 5 percent.[2]
The SGX announced plans in November 2005 to expand its derivatives platform into commodities through a 50/50 joint venture with the Chicago Board of Trade, known as the Joint Asian Derivatives Exchange. Jade launched its first products – rubber and crude palm oil – in 2006, and SGX bought out its partner in November 2007.[3]
In November 2007, SGX announced plans to pay PHP150 million for a 20 percent stake in Philippine Dealing System Holdings, a fixed income and currency platform.[4]
In November of 2008, SGX announced that Bob Caisley, executive vice president and chief information officer, was appointed to the executive committee.[5]
Key People
- CEO, Hsieh Fu Hua
- Senior EVP, Gan Seow Ann
- Senior EVP and CFO, Seck Wai Kwong
- Senior EVP, Yeo Lian Sim
- Non-Executive Chairman, Muthukrishnan Ramaswami
- Executive Vice President, Lawrence Wong
- Executive Vice President and Chief Human Resource Officer, K.A. Chang
- Executive Vice President, Chew Sutat
Structure and Regulation
Revenues from the securities business rose 133.5 percent to S$263.1 million in the fiscal first half to to Dec. 31, 2007, while revenues from the derivatives complex climbed 39.8 percent to S$75.9m. Derivatives volumes rose 21 percent to 44 million contracts in 2007.[6]
