Singapore Exchange's (SGX) Chinese index futures will remain the main tool for investors to hedge their Chinese exposure despite the Hong Kong bourse announcing a rival product, a top executive said, citing SGX's many derivative products.
last week following a two-year wait to launch its first derivatives product based on mainland Chinese shares, intensifying competition with SGX.The two exchanges are increasingly competing for business as HKEX seeks to diversify its revenues away from fees from share trading and expand further into derivatives, a traditional strength for SGX.
"Index providers are listing their products everywhere and it's no longer about the product. It's about the platform," Michael Syn, head of equities at SGX, told Reuters in an interview this week. The MSCI Taiwan index futures was one of them and SGX launched an alternative FTSE Taiwan index futures contract in July 2020, ahead of the shift to the Hong Kong bourse.
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