Singapore Exchange (SGX) said US investors can now directly trade the SGX MSCI Indonesia Index futures contracts. On Tuesday, the Commodity Futures Trading Commission (CFTC) approved that the contracts, which are based on the MSCI Indonesia equity index, may be offered and sold to persons in the US.
The SGX-listed MSCI Indonesia futures is the first offshore futures contract providing international investors easy and efficient access to the fast-growing Indonesian market. Since its launch on 11 June 2012, the MSCI Indonesia futures contract has traded a notional value of US$290 million ($357 million). The open interest has grown by 55% over the last three months, reaching a high of more than US$15 million notional in September 2012. Barclays, Credit Suisse and Optiver continue to be Market Makers for this contract, providing both on screen and off screen liquidity.
“With the CFTC’s certification, US investors can conveniently access the Indonesia economy, which has regained its investment grade rating early this year. SGX’s extensive range of equity derivatives, covering over 80% of Asia’s economies, will continue to serve as an international platform for efficient portfolio allocation and risk management.” said Michael Syn, Head of Derivatives, SGX.
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