Brokers ask if system can take the strain
Singapore Exchange (SGX)'s early success in its e-Nikkei
contract could see the electronic rollout of SGX's Taiwan index
and Euroyen contracts by the first quarter of next year.
The move will draw Taiwan Futures Exchange (Taifex) and
Tokyo International Financial Futures Exchange (Tiffe), which
offers competing products, into the 'e-war' that has been
raging in the US and Europe.
SGX's 1 November launch saw more than 2,500 e-Nikkei lots
traded during the day session, equivalent to15% of total SGX
Nikkei (pit and electronic) day volumes. By day four, the
percentage had risen to 25%.
Robert Tan, Head of Refco Asia, told FO Week, "the
contract has been a success and more of our customers are now
planning to move to electronic trading."
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