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Home  >  Fundamental analysis  >  World exchanges  >  Singapore Exchange (SGX)

Singapore Exchange (SGX)

Overseeing the Malacca Straits, one of busiest shipping lanes in the world, Singapore developed as a major harbor and trading center shortly after it was founded by Sir Thomas Stamford Raffles in 1819. Singapore became an independent city-state in 1965, breaking away from the Federation of Malaya.

Given its strategic economic role, it was no surprise that Singapore became a derivatives market center in 1984, with the creation of Singapore International Monetary Exchange or SIMEX. Globalization was in the cards from the start, as SIMEX simultaneously launched an industry first: a mutual offset trading link with the Chicago Mercantile Exchange (CME).

SIMEX, however, was not the citys first marketplace. The Stock Exchange of Singapore (SES) started trading equities in May 1973 under the umbrella of the Monetary Authority of Singapore.

But SIMEX developed faster than its predecessor largely due to a series of innovations, including launching the Nikkei 225 futuresthe first futures contract on a Japanese stock index. The two institutions merged in December 1999 into SGX, which demutualized into a for-profit corporation.

SGX ETS (Electronic Trading System) provides global trading access to its markets where 80 percent of the customers are from outside Singapore.

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