SINGAPORE Jan 9 The Singapore Exchange
will launch futures contracts next month, including
iron ore, the bourse said on Wednesday, as it aims to keep and
attract more U.S. clients faced with tougher over-the-counter
The move by SGX, which clears the bulk of globally traded
iron ore swaps, shows how exchanges outside the United States
are acting to ensure Washington's regulatory net over the
world's $640-trillion OTC market does not dent their U.S. client
"We are committed to helping our customers throughout Asia,
Europe and the United States navigate the complexity of rapidly
evolving risk management and regulatory requirements," Michael
Syn, head of derivatives at SGX, said in a statement.
Reuters first reported SGX's plan in December.
SGX said the futures contracts, which will also include
freight and oil and will be offered from Feb. 25, will be fully
fungible, with bilateral swaps now cleared by the exchange.
SGX clears more than 90 percent of globally traded iron ore
swaps. The volume hit a record 108.9 million tonnes in 2012.
(Reporting by Manolo Serapio Jr.; Editing by Clarence