On August 4, the international derivatives exchange, Eurex announced the opening of its representative office in Singapore. Philip Joslin, who has been working in the financial markets for more than 15 years, has been appointed head of the new representative office.
“The new presence in Singapore will significantly improve our customer service in the region and foster our direct relations with South-East Asian market participants”, said Michael Peters, member of the Eurex Executive Board and responsible for Business Development Asia & Middle East. “It is also a sign of our strong commitment to one of the most important financial centers in Asia, in which close relationships with key institutions have already been established.”
The Singapore office covers also the business activities in Australia and New Zealand. At present, Eurex has six members based in Singapore and Australia admitted for trading. Further customers are in the admission process. In addition the Singapore office will support the implementation of the trading and clearing of Daily Futures on KOSPI 200 options on Eurex as part of the cooperation with the Korea Exchange (KRX). Eurex has observed an increasing demand to trade the KOSPI 200 options from institutional customers out of Asia and the Pacific region.
The Eurex office in Singapore – as a part of Deutsche Börse Group’s international offices – complements the recently opened representative offices of Eurex in Hong Kong (opened in February 2009) and Tokyo (opened in April 2009).
Eurex was granted recognized market operator status by the Monetary Authority of Singapore in October 2005. All Eurex products are eligible for trading in Singapore under the recognized status.
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