Singapore positions itself as OTC clearing hub for Asia
Clearing link with KRX will lead to larger volumes and efficiencies at SGX
The proposed clearing link between Singapore Exchange (SGX) and Korea Exchange (KRX) will help Singapore to emerge as a regional clearing hub, according to Ernst & Young.
SGX and KRX signed a memorandum of understanding (MoU) to explore opportunities for setting up a clearing link for over-the-counter derivatives on March 13.
The two exchanges announced they would look at potential synergies in order to improve OTC participation in both markets.
SGX began clearing OTC derivatives in November
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