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SGX launches dual currency trading for ETFs

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Singapore Exchange (SGX) is to launch dual currency trading for ETFs on 15 June, enabling investors to trade foreign-currency denominated ETFs in Singapore dollars.

The move will provide investors with trading flexibility in accessing ETFs denominated in a foreign currency. 
 
SGX worked with issuers BlackRock’s iShares and CIMB-Principal Asset Management to offer the following ETFs with a secondary trading counter in Singapore dollars:
 
CIMB ASEAN 40 ETF

CIMB S&P Ethical Asia Pacific Dividend ETF

iShares Barclays Capital Asia Local Currency 1-3 Year Bond Index ETF

iShares Barclays Capital Asia Local Currency Bond Index ETF

iShares Barclays Capitial USD Asia High Yield Bond Index ETF

iShares JP Morgan USD Asia Credit Bond Index ETF

iShares MSCI India Index ETF 

The ETFs will be fungible, ie an investor can buy and/or sell the ETF in US or Singapore dollars regardless of the currency in which it was first bought and/or sold.  All the above ETFs are cash based full replication ETFs.
 
Nels Friets, Head of Securities at SGX, says: “With this new offering from SGX, investors can enjoy trading flexibility and cost efficiency while benefitting from investing in ETFs. Issuers will also benefit from a wider pool of investors as those who prefer to trade in Singapore dollars enter the market. We are delighted to have the support of BlackRock and CIMB-Principal in offering investors increased access to our wide suite of ETFs.”

SGX introduced dual currency trading for securities on 22 March 2012. Hutchison Port Holdings Trust was the first listed security to launch dual currency units. 

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