A new derivatives exchange and clearing house in Singapore will begin trading in the second quarter of 2018, backed by Chinese investors.
The new exchange will offer futures and options contracts covering commodity and financial derivatives products according to a statement from the firm.
Asia Pacific Exchange (APEX) is supported by Chinese conglomerates Xinhu Group and CEFC China Energy.
Apex will be Singapore’s third derivatives exchange, alongside Singapore Exchange and Intercontinental Exchange. The products will cover agriculture, energy, petrochemical, metal, interest rates and stock indices. Its first contract is a U.S. dollar-denominated physically-delivered palm olein futures.
«Apex's vision is to establish itself as an exchange that will be the Asian center for price benchmarks to be referenced by global market participants,» said Eugene Zhu, APEX founder and chief executive officer.
