The Singapore Exchange (SGX) has opened a new office in Chicago - its first foray into the United States.
The bourse operator yesterday said the move will let it "better serve a growing client base in this region and meet the rising international investor appetite to access and risk manage Asian exposure".
SGX head of derivatives Michael Syn said the opening of SGX America, as the outlet is called, is "a logical step" following the extension of its now round-the-clock trading and clearing hours.
"Given the size and depth of the market, spanning financial institutions, funds, trading firms and Futures Commission Merchants, the US is an important market for us, both for our financial and commodity derivative products," he said.
"Chicago is home to a vibrant trading community with a long history in the global futures and options market, making it a natural first base for us."
SGX America will give investors in North America better access to the bourse's suite of foreign exchange futures and options, commodity derivatives, as well as price benchmark tools such as the Singapore Sling for Asian liquefied natural gas.
SGX chief executive Loh Boon Chye said the move marks an important milestone in the exchange's international expansion strategy and reinforces its status as Asia's most connected exchange.
"SGX's knowledge of the Asian markets, and the diversity of our Asia-linked futures and options, will resonate with investors in North America who are increasingly looking East for growth opportunities across asset classes," Mr Loh added. "A physical presence in the US will also better enable us to develop connectivity with the world's largest equities and fixed-income market."
SGX's high-performance derivatives trading platform, SGX Titan, was launched in November last year. This extended the trading hours of its derivatives market to one of the longest in Asia.
The average monthly T+1 (Asian day trading session plus Asian night trading session or European/US day session) volumes for listed financial derivatives rose by 13 per cent in the six months after the launch compared with the previous six months, with participation rising in both Europe and the US.