General Announcement::News Release: SGX realigns business and client organisation to grow and scale asset classes

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Securities
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
27-Jun-2019 08:11:58
Status
New
Announcement Sub Title
News Release: SGX realigns business and client organisation to grow and scale asset classes
Announcement Reference
SG190627OTHR5Y8J
Submitted By (Co./ Ind. Name)
Jo-Ann
Designation
Senior Associate, Marketing & Communications
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) today announced a new organisation structure that capitalises on its strength as an international multi-asset exchange, to pursue growth opportunities and build scale in multiple asset classes.

Effective 1 July 2019, 4 business and client units will report to the CEO Fixed Income, Currencies and Commodities; Equities (Cash & Derivatives); Data, Connectivity and Indices; and Global Sales and Origination.

1. Fixed Income, Currencies and Commodities (FICC)

Over the last decade, the Fixed income, Currencies and Commodities businesses in SGX have been on a path of considerable growth. They have now emerged as a sizable set of asset classes and will be combined to form a new business unit.

The rising convergence of OTC and listed FX markets, coupled with our standing as Asia's fastest growing and largest Asian FX Futures venue, presents us with opportunities to serve the market with innovative and differentiated products.

Building on our leadership in Asian debt capital markets and growing traction of our bond trading business SGX Bond Pro, we are well placed to capture opportunities arising from the digitisation of the Fixed Income industry.

In Commodities, we will deepen our leading position in Asian industrial commodities and continue to drive synergies between global trade and transport marketplaces. Baltic Exchange and Energy Market Company (EMC), both wholly-owned subsidiaries of SGX, will report into FICC as important anchors to the physical market in the Commodities value chain.

The unit will be led by Lee Beng Hong, who brings over 16 years of international banking experience in global markets, specialising in Asian FICC products, sales and coverage. He will be joining SGX on 1 August 2019. In the interim, the CEO will have oversight of the unit.

2. Equities

In an environment of abundant global liquidity, platform superiority will determine market participants' choice of trading and clearing venues.

To that end, our cash equities and equity derivatives businesses will merge to form an enlarged platform where retail and institutional clients can access a continuum of equities products, including all trading, clearing, post-trade and research services.

Our expertise and market leadership in equity derivatives will be leveraged to internationalise our cash equities proposition through the introduction of new derivatives products, structured products and offshore risk management capabilities. By focusing on Equities as a single asset class, product and service innovation can span both cash and derivatives channels to address client needs holistically.
Michael Syn, currently Head of Derivatives, is appointed as the Head of Equities.

3. Data, Connectivity and Indices (DCI)

The Market Data & Connectivity (MDC) unit is renamed Data, Connectivity and Indices (DCI) in acknowledgement of our full suite of data-related product and services. With the global shift towards passive investing, we will build our index business capabilities to cater for future growth.

Ng Kin Yee will continue to lead DCI.

4. Global Sales and Origination (GSO)

The Global Sales and Origination (GSO) unit combines the equities and debt capital market teams with SGX's nine international offices and specialist sales teams. This consolidation enables deeper international presence to facilitate capital-raising in key markets and creates an integrated client facing group that will serve all segments with the full spectrum of SGX products and services across asset classes.

Chew Sutat, currently Head of Equities & Fixed Income, will head GSO.

SGX CEO Loh Boon Chye said, "These changes will further SGX's future growth as a leading international exchange, fluent in multiple asset classes. We look forward to building new capabilities in growth areas, achieving scale and efficiency in established markets and enhancing customer-centric delivery of investment, risk management and capital formation solutions to the marketplace."

The new organisation structure will be available on www.sgx.com on the effective date of change.

Attachments

20190727_SGX_realigns_business_and_client_organisations_to_grow_and_scale_asset_classes.pdf
Total size =548K