SGX is pleased to launch the SGX MSCI Singapore Free Net Total Return (USD) Index Futures contract (“Contract”) on SGX Titan DT on Monday, 21 August 2017.
The Contract will commence trading at 7.00 a.m. Singapore Time and the pre-opening session will begin at 6.45 a.m. Singapore Time.
SGX will list the following contract months upon launch: 8 serial month contracts starting with the October 2017 contract up to the October 2018 contract, and 12 quarterly month contracts starting with the September 2017 contract up to the June 2020 contract.
A. Contract Specifications
The summary contract specifications of the Contract are enclosed in Appendix A, and the full contract specifications are enclosed in Appendix B.
B. Clearing and Licensing Fees
Clearing fees for the Contract are set out in Appendix C.
C. Margin Requirements
Margin requirements for the Contract will be published by the Clearing House closer to the date of launch.
D. Cross Product Margining
To further enhance capital efficiency for our customers, margin offsets in the form of inter-commodity spreads for the Contract and correlated products (e.g. SGX MSCI Singapore Free Index Futures etc.) will be offered.
More information on the margin offets will be published closer to the date of launch.
E. Final Settlement Price Methodology
The Final Settlement Price for the Contract will be the official closing price of the MSCI Singapore Free Net Total Return (USD) IndexSM for the Last Trading Day, computed by MSCI, Inc., and rounded to 4 decimal places.
The official Final Settlement Price will be published as per current practice.
F. Pre-Trade Risk Control (PTRC) Limits
SGX requires all Trading and Clearing Members to set pre-execution limits on their client’s orders.
Members are advised to set up the product and credit limits for the Contract.
G. Titan-OTC Limits
Members are advised to enable and set the necessary limits for the Contract in Titan-OTC.
H. Amendments to the Futures Trading Rules
The introduction of the Contract constitutes amendments to the Futures Trading Rules with respect to the calculation of the final settlement price, the daily price limits and the position limits.
In addition, consequential amendments will be made to Appendices A and B of Regulatory Notice 4.1.11 of the Futures Trading Rules in relation to the minimum volume thresholds and the minimum tick size schedule for Negotiated Large Trades. These amendments are enclosed as Appendix D.
I. Certification by U.S. CFTC
The Contract has been certified by U.S. Commodity Futures Trading Commission (CFTC) and may be offered and sold to persons in the U.S.
If you wish to trade this contract, please contact your sales representative or email us at [email protected]