Euronext.liffe has secured orders for direct connectivity to its markets from five major customers in Singapore in advance of the 31 October launch of its Singapore hub, which has been developed jointly with the Chicago Board of Trade.
The five customers are Refco Trading Services, a division of Refco (Singapore) Pte Ltd, Man Financial (S) Pte Ltd, Schneider Trading Associates Limited, ABN AMRO Futures (Singapore) Limited and Saxon Financials Limited.
Euronext.liffe has a scheme for Singapore-based derivatives traders which offers attractively priced trading to the growing Euronext.liffe trading community in Singapore. This allows professional traders who trade Short Term Interest Rate contracts on Euronext.liffe to benefit from fully rebated exchange transaction fees up to a certain cap.
Hugh Freedberg, Chief Executive of Euronext.liffe said: "Our ability to offer access to Euronext.liffe via local hubs has greatly helped extend the reach of LIFFE CONNECT. Singapore is the perfect location for our first Asian hub and we look forward to providing exciting new opportunities for this important market to trade our products."
Steve Ng, CEO, ABN AMRO Futures (Singapore) Limited, said, "Euronext.liffe's decision to locate a hub in Singapore is very good news for us. Our business will benefit and Singapore will benefit, because customers across Asia will have more efficient access to Euronext.liffe's range of liquid products."
Jeremy Brown, CEO, UOBF Schneider Trading Private Ltd. said, "Singapore is an experienced and growing proprietary trading community which we are pleased to be a part of. We very much welcome Euronext.liffe's decision to put a hub in Singapore providing a greater opportunity to access a suite of highly liquid and tradeable products on a world class electronic trading platform like LIFFE CONNECT."
Through LIFFE CONNECT customers already trade Euronext.liffe's derivatives products from over 800 sites in 29 countries. In the Asia region, there are currently 70 order-outing customers, accessing the market from Singapore, Japan, Australia, Hong Kong and India.
Euronext.liffe currently has hubs in London, Paris, Amsterdam, Gibraltar, New York and Chicago.