On 26 November 2014, the Singapore Exchange Limited (the “SGX”) issued a press release announcing its intention to launch a bond trading platform by mid-2015. The new platform will initially trade Asian corporate bonds in G3 currencies, with Asian local currencies to follow.
This initiative is the first of its kind focused on Asian bonds, and to drive it, the SGX has formed a new subsidiary, SGX Bond Trading (“SGX BT”).
The platform aims to become an Asian Liquidity Centre for both high-yield and investment-grade corporate bonds. The SGX held an inaugural Steering Committee meeting with senior representatives of 32 leading Asian fixed income dealers and investors on 25 November 2014 and will continue to hold such meetings periodically leading to the launch of the platform. The Steering Committee will provide strategic direction and feedback to the SGX on the development and refinement of services provided by SGX BT to address the needs of Asian bond market participants.