Newedge is now fully operational as a general clearing member of the Singapore Mercantile Exchange (SMX), the first trans-Asian multi-product commodity and currency derivatives exchange.
The SMX membership allows Newedge to transact, clear and settle customer trades, including any other broker member or trade member of the exchange. Newedge is a commodity broker on agricultural products, energy, emissions and metals, but also offers global multi-asset brokerage services for a range of listed and OTC derivatives and securities.
Newedge SMX membership adds to our presence in Singapore where we already have a significant position, says Mike Gilbert, global head of professional trading group & head of clearing Asia Pacific, Newedge. We are pleased to offer SMX access to our clients and take part in the development of commodities and derivatives markets in Asia.
Thomas J. McMahon, CEO of SMX, adds: We are very pleased to have Newedge go live as a General Clearing Member from an early stage in the Exchanges development. Its place among our pioneering clearers affirms the compelling nature of our trans-Asian multi-product range and serves as valuable insight for cross-border liquidity. We look forward to a shared emphasis on balancing international clientele with regional experience to list multi-asset solutions for marketplace demands. We see Newedge clients maximizing the benefits from SMX products, while simultaneously adding to the Exchanges participant and liquidity pool.