- Awards based on voting by FX and money-market professionals
- SGX’s strong FX volume growth and popularity of new products among success factors
Singapore Exchange (SGX) has been named “Best FX Exchange in Asia” and “Best FX Clearing House in Asia” for 2018, following voting by foreign exchange and money-market professionals in FX Week’s annual awards.
The Best FX Exchange award recognises the exchange that most successfully offers efficiencies beyond over-the-counter (OTC)markets, with SGX’s strong volume growth and the popularity of its new products among key factors considered. The exchange won Best FX Clearing House for demonstrating a long-term strategy that positions for shifts in market structure. FX Week, a leading industry publication, unveiled the winners of its Asia awards on 29 August in Singapore.
The awards coincide with SGX’s development of FlexC futures, an innovation that bridges the standardised futures and bespoke OTC worlds in FX, in response to rising demand for Asian access and risk-management tools.
Michael Syn, Head of Derivatives at SGX, said, “We are honoured to be recognised by the industry for our leadership and innovation in FX derivatives. This asset class is an important pillar of our growth strategy, and we aim to continue providing market participants with the tools they need to manage risk while strengthening efficiencies that benefit the ecosystem.”
SGX is Asia’s largest and most diverse exchange for FX futures, with both volume and notional value so far in 2018 surpassing the full-year tally for 2017. From January to July, a total of 9.94 million contracts were transacted at a notional value of US$477.64 billion.
