General Announcement::News Release: SGX welcomes Yongan International Financial as Derivatives Trading Member
Issuer & Securities
SINGAPORE EXCHANGE LIMITED
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Date &Time of Broadcast
Announcement Sub Title
News Release: SGX welcomes Yongan International Financial as Derivatives Trading Member
Submitted By (Co./ Ind. Name)
Senior Associate, Marketing & Communications
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) welcomes Yongan International Financial (Singapore) Pte. Ltd. as a Derivatives Trading Member.
Yongan International Financial (Singapore) is a Capital Markets Services licence holder regulated by the Monetary Authority of Singapore and a wholly-owned Singapore subsidiary of Xin Yongan International Financial Holdings Ltd., which is incorporated in Hong Kong. The Yongan Group provides a wide range of financial services, including commodities futures and financial futures brokerage to a substantial and diversified client base that includes corporations, financial institutions and individuals.
Chew Sutat, Head of Global Sales and Origination at SGX, said, "We are pleased to welcome Yongan International Financial (Singapore) as Derivatives Trading Member, extending our strong membership footprint across China. There is an increasing need for Asian equity and fixed income, currencies and commodities derivatives and hedging tools for trading and risk management, and we look forward to working with Yongan to expand their financial offerings to clients in this space."
Kevin Wong, CEO of Yongan International, said, "We are pleased to be admitted as a Derivatives Trading Member of SGX. With a presence in Singapore, as well as our SGX membership, we believe we are well positioned to offer our clients, both in China and across Asia, a multi-asset class derivative platform for their risk management and hedging needs."
With the addition of Yongan International Financial (Singapore) Pte. Ltd., SGX's derivatives market now has 66 Trading Members and 26 Clearing Members.
Total size =465K