SGX beats Chinese exchange to Index futures contract launch

Singapore Exchange (SGX) launched its FTSE Xinhua China index futures contract on 5 September beating Shanghai's new financial derivatives exchange which was to be ceremonially launched on 8 September, despite a legal challenge from Shanghai Stock Exchange (SSE) against the index provider.

First day volume was 212 lots but Thomas Tey, SGX's head of international products, told FO Week he was optimistic for the contract's prospects.

"It is still early...