Singapore Exchange (SGX) is welcoming China International Capital Corporation (Singapore), as part of its plans to encourage regional participation and deepen financial connectivity with China.
With this membership, CICC will be able to expand investment options to its clients and add diversity to the investor base of its securities market, according to an announcement on Thursday.
«The SGX trading membership will further cement CICC Singapore’s efforts in the development of cross-border transactions between Singapore and the region. This will be one of many initiatives to broaden our coverage of the Singapore capital market,» Stephen Ng, managing director and chief executive officer of CICC Singapore, said in the announcement.
CICC's membership follows a memorandum of understanding it signed with SGX in July 2020 to bridge Singapore and China's financial markets.
Growing Equities Business
Incorporated in July 2008, CICC Singapore is the hub for CICC’s Southeast Asia and South Asia businesses and operations, primarily focusing on sales and trading, and investment banking activities.
The launch of CICC's Singapore trading desk is expected to facilitate more Chinese capital investing in Singapore-listed securities, and promote greater cross-border capital flows between Singapore and other markets, Huang Haizhou, CICC managing director and head of equities, said
SGX’s securities market currently has 25 Trading Members, as well as 24 Clearing Members. In the derivatives market, there are 63 Trading Members and 25 Clearing Members.
