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SGX teams up with FTSE Russell for multi-asset derivatives products

FILE PHOTO: A man wearing a protective face mask walks past the Singapore Exchange (SGX) which stays open during "circuit breaker" measures to curb coronavirus COVID-19) in central business district area in Singapore, April 7, 2020. REUTERS/Edgar Su/File Photo

SINGAPORE (Reuters) - Singapore Exchange Ltd (SGX) SGXL.SI has expanded its partnership with global index provider FTSE Russell, under which both parties will jointly develop and market Asian and emerging markets focused, multi-asset index derivatives products.

“In the next few months, you will see a series of product launches on the back of this agreement,” Loh Boon Chye, SGX’s CEO told reporters on Thursday.

The move by SGX comes just three months after index provider MSCI Inc MSCI.N said it would shift licensing of many Asian derivatives to Hong Kong Exchanges and Clearing Ltd 0388.HK from Feb. 2021, dealing a blow to SGX's lucrative derivatives business.

SGX’s suite of equities, commodities and forex derivative products have helped power its earnings growth over the past few years.

SGX and FTSE Russell said the new core products will be anchored around FTSE Russell’s global benchmark indexes for fixed Income, listed real Estate, global equities and currencies.

FTSE Russell is a unit of the London Stock Exchange Group LSE.L.

Reporting by Anshuman Daga; Editing by Toby Chopra

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