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Essay / Research Paper Abstract
This 10 page paper looks at the SGX. The paper gives a brief history of Singapore Exchange (SGX)- derivative market, discusses the way that the exchange operates and the products offer, the level of activities and how investment managers can managing their respective portfolios can use derivative products. The bibliography cites 11 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEsgxqus.rtf
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Unformatted sample text from the term paper:
a merger between the Singapore International Monetary Exchange (SIMEX) and the Stock Exchange of Singapore (SES). Both of these we well established and respected financial institutions, SES traded in the
stocks and at the end of 1998 there were a total of 307 companies listed with market capitalization totaling $263 billion. It was SIMEX which had been the exchange dealing
with derivatives. The history of SIMEX can be traced back to 1978, when there was the establishment of trading in derivatives with trade in gold futures, which was undertaken
by the Gold Exchange of Singapore (Anonymous, 1989). The exchange was reorganized in 1983 and was renamed the Singapore International Monetary Exchange. There were further major changes in 1984 when
it the scope of the activities was broadened to more futures (Anonymous, 1989). The exchange undertook an agreement with the Chicago Mercantile Exchange, the mutual offset arrangement increased the potential
efficiency of the markets by lowering the potential transaction costs for the participants in the market (Morris, 1984). This was the first linkage of this type, but was not to
be the last as other exchanges emulated the system, which also trading around the clock (Anonymous, 1989). By 1988 SIMEX trading in the exchange was taking with six different
types of futures contracts; these included the golf futures that the market had started with, as well as Nikkei average stock index, Eurodollar time deposit interest, and three currency exchange
rates; the US dollar/British Sterling, US dollar/Japanese Yen and the US dollar/West German deutsche mark (Anonymous, 1989). During this period the exchange grew with higher levels being traded each year.
The development of the exchange was also recognized for its excellence, it has been nominated as the "Derivatives Exchange of the Year" by the International Financing Review in 1989, 1992,
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