SINGAPORE - Local bourse Singapore Exchange announced that it will start market making in electricity futures next month.

The move will start from April 1, and comes after the listing of Asia's first electricity futures contract last October, said SGX in a statement on Monday.

SGX, which operates securities, commodities and derivatives markets, said that more market makers will join the market on July 1.

"Six market making slots have been awarded to companies from the Singapore electricity industry, and a waiting list has been set up for applications that could not be considered at this point."

The bourse added that the market making function for electricity futures boosts plans to create "Asia's first fully developed energy market".