Singapore Exchange (SGX)

[weijian]

27 May 2020 SGX halted

(click for sgx announcement)

SGX reduce MSCI license agreement from Feb 2021.
MCSI Singapore futures and options remain listed, license agreement for all other MSCI products will expire in Feb 2021.

If we were to use the first 10months (FYTD 2020) of the derivatives volume based on April 2020, the MSCI indices probably takes up ~25mil (16%) for non-Spore and ~10mil (6%) for Spore. For the non-Spore volume, the majority of them is coming from 1 country, Taiwan (~20mil). So in a sense, after taking away Spore/Taiwan, MSCI stuff had never reached critical mass and it is actually minuscule. (p.s all these are quick back of envelope calculations for approximation purposes)

SGX April 2020 derivative report: https://api2.sgx.com/sites/default/files...202020.pdf

Nonetheless, the removal of all MSCI indexes (except Spore) is probably a similar hit like the Niffy contract saga 2-3 years back. It is a brave new world that SGX is venturing into - by removing the support from MSCI and probably trying to fill the gap with SGX Edge.

Coincidentally, MSCI isn't too sad as they have a new bigger partner.
https://www.hkex.com.hk/News/News-Releas...sc_lang=en