Singapore Exchange (SGX Group) has welcomed Yongan International Financial (Singapore) as its newest derivatives clearing member.
The firm is a wholly-owned Singapore subsidiary of Xin Yongan International Financial Holdings, which is incorporated in Hong Kong. The Yongan Group provides commodities futures and financial futures brokerage services to corporations, financial institutions and individuals.
Pol de Win, SGX Group’s head of global sales and origination, says in a Jan 3 statement: “Since joining us as a derivatives trading member in 2020, Yongan has continuously demonstrated its expertise and capabilities, contributing significantly to our ecosystem. This milestone marks a strengthening of our relationship, and we are excited to see how Yongan International Financial (Singapore) will further enhance the diversity and robustness of the derivatives market.”
Huang Zhi Ming, chairman of Yongan Group, says Singapore opens the door to opportunities for expanding their clientele network. “Yongan Singapore serves as an international platform, offering products listed on SGX and Yongan’s tailored services. We look forward to working closely with SGX in the long term as a key gateway for our clients and services in the region.”
With the addition of Yongan International Financial (Singapore), there are now 31 clearing members in SGX Group’s derivatives market.
