SGX to launch India and ASEAN bond futures amidst market volatility

The contracts will range from three- to 10-year maturities per country.

Singapore Exchange Ltd. plans to introduce futures contracts tied to government bonds from India, Indonesia, Malaysia, Thailand, and the Philippines.

The contracts will cover three-, five-, and 10-year maturities per country, settled in dollars and priced based on the average yield of a basket of up to three sovereign bonds, according to a Bloomberg report.

The report said that the launch is expected in the coming weeks, according to Singapore Exchange Chief Executive Officer Loh Boon Chye at an event in Florida.

The initiative comes amidst volatility in global bond markets following crude oil price increases and divergent monetary policies in the region.

Investors have continued to purchase bonds in the Philippines and Thailand, whilst India has attracted around $20.34m (US$16b) since its inclusion in JPMorgan Chase & Co.’s flagship index in June 2024, Bloomberg added.

Currently, the bourse offers Japanese government bond futures, Singapore overnight rate average futures, and Tokyo overnight average rate futures.

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