Singapore Exchange Adds Mizuho Securities USA as Clearing Member

Singapore Exchange (SGX) has added Mizuho Securities USA as its first remote clearing member, allowing international clearing clients to access the SGX platform from their home jurisdictions, which is a capability required under the Dodd-Frank Act.
By Jake Safane(2147484770)
Singapore Exchange (SGX) has added Mizuho Securities USA as its first remote clearing member, allowing international clearing clients to access the SGX platform from their home jurisdictions, which is a capability required under the Dodd-Frank Act.

As SGX has this type of membership class, it became the first exchange in Asia to receive Derivatives Clearing Organization (DCO) status by the U.S. Commodity Futures Trading Commission (CFTC). With this membership, brokers who are registered with the CFTC can clear swaps for U.S. customers through SGX’s Derivatives Clearing House.

“We welcome Mizuho Securities USA as our first remote derivatives clearing member. Under this new class of membership, SGX can accommodate a wider set of participants and support clearing of trades for U.S. and European end clients. U.S. customers covered by Dodd-Frank regulations will be able to trade with our large Asian customer base and clear their trades on the SGX platform and realize improved safety and efficiency on such transactions,” says Muthukrishnan Ramaswami, president of SGX.

With Mizuho Securities USA now on board, SGX has 27 Derivatives Clearing Members. SGX also has 11 Clearing Members for the clearing of OTC derivatives and 47 Derivatives Trading Members.

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