SGX

SGX: In its continuous drive to expand its suite of product offerings, SGX has launched the clearing of Non-Deliverable Interest Rate Swaps (NDIRS) in Malaysian Ringgit and Thai Baht. The new asset class, which will be settled in US dollars, further augments SGX’s current suite of Over-the-Counter (OTC) Financials clearing which includes Interest Rate Swaps (IRS) in SGD and USD and Non-Deliverable Forwards (NDF) in seven Asian currencies Clients are expected to benefit from the straight-through-processing by SGX which will mitigate their counterparty and operational risks. Additionally, clients could also benefit from lower capital requirements for their trades and default fund exposures as stated under the Basel III framework for financial institutions. SGX guides that NDIRS products in RM and THB are actively traded in Singapore and the region, and clearing of these products will address customers’ need for secure and efficient risk management solutions to better manage their counterparty and operational risks.