The next battle front between the two Asian financial hubs will be on China stock futures. YahooFinance
-- Singapore’s role as a regional equity derivatives trading centre may be curtailed after it lost a major index-licensing deal to Hong Kong. The next battle front between the two Asian financial hubs will be on China stock futures.
Singapore Exchange Ltd. is currently the only overseas platform where investors can trade Chinese A-share futures, and the product accounts for about half of the bourse’s equity derivatives volume. That may be short-lived as Hong Kong Exchanges & Clearing Ltd. said last year it’s working on a similar hedging tool for mainland stocks with MSCI Inc., which is still pending regulatory approval.
The stakes are high for SGX as equity-derivatives sales alone accounted for 36% of its total revenue for the quarter through March. Meanwhile, the exchange is facing other challenges such as a slowdown in listings and India’s decision to move trading onshore for some futures contracts from Singapore.
MSCI last month announced it will move licensing for derivative products on a host of gauges to Hong Kong from Singapore. As a result, the North Asian city will soon start selling 37 futures and options contracts based on MSCI’s Asian and emerging-market equity measures, with launches for Taiwan, China and India futures slated for as early as July.
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