SGX

SGX: The Exchange signed a MOU with Korea Exchange (KRX) to jointly explore collaborations in the development of OTC financial derivatives clearing capabilities. KRX's KOSPI200 futures and options have been the most actively-traded derivatives products in the world. SGX began clearing OTC financial derivatives in November 2010. SGX also announced their plans of adding foreign exchange futures to its derivatives market in the third quarter of 2013, subject to regulatory approval. Plans for USD, JPY, SGD, INR crosses to be included. Also, SGX announced its signing with global index provider MSCI for 14 new regional and country indices. With this, SGX has licensed a total of 19 MSCI indices, encompassing almost all of Asia’s key capital and other growth markets. Indices include the MSCI Emerging Markets Index, covering Thailand, the Philippines and other country markets, and the MSCI Frontier Markets Index. SGX will provide investors with single-country access to about 90% of the MSCI AC Asia Index by market capitalization. Lastly, SGX also signed a MOU with The Philippine Stock Exchange to cooperate in the development of Philippines-linked derivatives products. The first product to be launched would be a Philippines index futures, based on the MSCI Philippines index. The product is targeted for listing on SGX in 4Q2013, subject to regulatory approval. SGX trades at 28.5x trailing P/E; peer Hong Kong Exchange trading at 36.7x