Singapore Exchange preps FX clearing launch

muthukrishnan-ramaswami-sgx — Muthukrishnan Ramaswami, SGX

- Joel Clark
- 19 Oct 2011

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The Singapore Exchange (SGX) expects to launch clearing services for non-deliverable forwards (NDFs) denominated in Asian currencies within the coming weeks, according to senior officials at the exchange.

The move into NDFs comes a year after SGX launched clearing for interest rate swaps in November 2010. During the three months ending September 30, SGX cleared a notional value of $59 billion in interest rate swaps, bringing the cumulative value to $169 billion since inception.

“We built our

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