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SGX to launch interest rate derivatives in H2

These features link Singapore and Japan’s interest rate derivatives.

Singapore Exchange Group (SGX) announced that they will be introducing short-term interest rate features linked to the Singapore Overnight Rate Average (SORA) and Tokyo Overnight Average Rate (TONA) in the second half of 2024.

“The uncertain interest rate environment, coupled with inflation and volatility in the macroenvironment, has increased the appeal and usage of interest rate derivatives as a cost-effective, transparent hedging and trading tool.” KC Lam, global head of FX & Rates, SGX Group, said.

The three-month SORA and TONA Futures contracts are aimed to launch in the second half of this year, subject to regulatory approval.

These contracts are expected to augment the SGX MSCI Singapore Index Futures and SGX USD/SGD Full-sized and Mini FX Futures, SGX said in an announcement.

The three-month TONA Futures is also expected to complement SGX’s Japanese derivatives portfolio such as JGB futures, SGX Nikkei 225 Index futures and options, as well as SGX USD/JPY FX futures.

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