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Last Trade - 14/05/21

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Singapore Exchange and ICAP to develop new Asian currency products

Wed 14th January, 2015 11:26am
SINGAPORE, Jan 14 (Reuters) - Singapore Exchange 
 SGXL.SI (SGX) and ICAP's  IAP.L  EBS will together develop a 
new range of Asian currency products and services, the two 
companies said on Wednesday. 
    EBS, ICAP's electronic foreign-exchange business, and 
Singapore Exchange expect the products to strengthen liquidity 
in both the over-the-counter foreign exchange and futures 
markets in Asia.  
    Customers will initially be offered access to Singapore 
Exchange-listed currency derivatives through the EBS platforms, 
to be cleared by SGX.  
    So far, SGX has introduced 11 foreign-exchange futures 
contracts, including the Indian rupee and Chinese yuan, trading 
more than $26 billion in aggregate notional value since launch, 
it said in a statement. 
    Regulatory reforms around the world are trying to push for 
the trillions of dollars in over-the-counter derivatives to be 
centrally cleared to try to reduce the level of risk posed to 
the financial system. 
    Singapore is the world's third-largest foreign-exchange 
trading centre behind London and New York.  
 (Reporting by Saeed Azhar; Editing by David Goodman) 
 ((; +65-64035664 ; Reuters 
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