The international derivatives exchange Eurex announced today that it admitted the first local broker from the Republic of Singapore. UOB Bullion and Futures Limited, a subsidiary of Singapore-based United Overseas Bank Limited, was connected on 18 August 2008 to the Singapore Access Point of Eurex.
“We are very pleased to welcome the first local broker from Singapore”, said Michael Peters, member of the Eurex Executive board. “Through the connection to our Access Point, UOB Bullion and Futures Limited and its institutional customers now have direct and reliable access to our international trading network and our full product suite.” Eurex currently serves more than 400 members in 22 countries.
Mr Terence Ong, Chairman, UOB Bullion and Futures said: “It is a great honour for us to be the first local brokerage in Singapore to be connected to the Eurex Access Point that has been set up in Singapore. We constantly look at ways to improve and enhance the trading experience of our clients and this access provides them with trading connectivity to the European markets.”
Eurex has been active in Singapore since 2005, when it received regulatory approval by the Monetary Authority of Singapore. Since June 2006 Eurex has been operating an Access Point in Singapore for customers from Asia.
About United Overseas Bank
United Overseas Bank Limited (UOB) is a leading bank in Singapore with a strong presence in the region. It provides a wide range of financial services through its global network of over 500 offices in 18 countries and territories in Asia Pacific, Western Europe and North America, including its banking subsidiaries in Singapore, Malaysia, Indonesia, Thailand and mainland China.
In Singapore, UOB is a market leader in the credit and debit cards business, and the private residential home loan business. It is also a dominant player in loans to small and medium-sized enterprises. Its fund management arm, UOB Asset Management, is one of Singapore's most awarded fund managers.
UOB is rated among the world’s top banks by Moody’s Investors Service, receiving B for financial strength, and Aa1 and Prime-1 for long-term and short-term bank deposits respectively. -- www.deutsche-boerse.com
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