Page 57 - 期貨和衍生品行業(yè)監管動(dòng)態(tài)（2024年3月）
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期貨和衍生品行業(yè)監管動(dòng)態(tài)
注：
1. SORA 由新加坡金融管理局（MAS）發(fā)布，是新加坡無(wú)擔保隔夜同業(yè)拆借
新元（SGD）現金市場(chǎng)的交易量加權平均利率。
2. TONA 由日本銀行發(fā)布，是日元（JPY）無(wú)擔保隔夜貨幣市場(chǎng)現貨交易的
交易量加權平均利率。
SGX Group to Launch Interest Rate Derivatives in 2H 2024 (2024/3/12)
? Derivatives franchise will expand to include futures linked to Singapore and
Japan’s overnight interest rate benchmarks, to support strong emerging
demand for more risk management tools in an uncertain interest rate
environment.
Singapore Exchange (SGX Group) will introduce short-term interest rate futures
linked to the Singapore Overnight Rate Average (SORA) [1] and Tokyo Overnight
Average Rate (TONA) [2], as global investors increasingly seek more transparent and
cost-effective tools to hedge and trade fluctuations in interest rates.
Three-month SORA and TONA Futures contracts are targeted to be launched in
the second half of this year, subject to regulatory approval. These contracts build upon
SGX Group’s current suite of long-term interest rate futures – 10-year Full-Sized and
Mini Japanese Government Bond (JGB) futures – which have attracted diverse
international market participants.
SGX Group is driving the futurisation of OTC derivatives to enhance greater
capital efficiency, price discovery and liquidity in Singapore’s Singapore Dollar (SGD)
interest rates market. SORA Futures will be a new hedging tool for market
participants to manage their exposure to interest rate risks, amid growing issuance of
SGD cash market products that reference SORA. The contract will augment SGX
Group’s Singapore product shelf including its flagship SGX MSCI Singapore Index
Futures and SGX USD/SGD Full-Sized and Mini FX Futures.
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