Executive Vice President and Head of SGX-DT, Jimmy Ang, said "The migration of the SGX Brent Crude to SGX-ETS facilitates trading access for the oil companies, the proprietary trading members of SGX-DT, by allowing them to trade directly via the SGX-ETS terminals installed at their premises. Traders with access to WTI crude oil futures via NYMEX ACCESS terminals in Singapore, will be able to trade the Brent-WTI spread, when the Brent Crude is introduced in the SGX-ETS. This move also provides its electronic trading locals with an additional product to trade besides the other contracts which are already offered in the SGX-ETS."
"More importantly, SGX-DT views this migration as timely given the current volatility in the oil market. By offering the contract in the SGX-ETS, it will create more trading and hedging opportunities for all traders" added Mr Ang.
Global traders and customers will soon be able to react to overnight oil-price sensitive news and events and trade the SGX Brent Crude Contract from wherever they are, upon the completion of the Bloomberg and other ISV connections into SGX-DT.