Eurex sees more Indian companies trading financial contracts
Tuesday, 24 August 2010, 07:04 IST
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SINGAPORE: An increasing number of Indian companies are seeking out global financial contract trading opportunities on international exchanges, according to senior officials at the Eurex Frankfurt AG, Europe''s leading financial futures exchange. "There has been a significant increase in inquiries from Indian companies to trade in Eurex products, and we have 150 Indian traders handling trading of our member companies based in Mumbai, Kolkata and Delhi," Roland Schwinn, Eurex''s executive director and head of Asia & Middle East, told PTI in Singapore today. A growing number of Indian companies have already started trading with Eurex through their offshore entities in Singapore, added Philip Joslin, Head of Singapore office and Business Development for Asia & the Middle East. "We see a significant increase in our volume from Asia, including India," he said after presenting "Eurex Strategy in Asia" in Singapore today. Eurex is also preparing to start a trader trading programme in India next year, after seeking regulatory approvals. The training programme, which is being launched in Australia, Singapore, Hong Kong and Taiwan this year, would cover India, along with China, South Korea, Japan and emerging markets in Southeast Asia, Schwinn said. The training would cover strategies, computer-based algorithmic and psychology as well as hedging of Sensex exposure with Euro STOXX 50 in the future. Eurex and Bombay Stock Exchange (BSE) are preparing to launch futures and options on the Sensex, the blue-chip index of the BSE, on October 4, 2010. The Sensex Index tracks the daily performance of BSE's 30 of the largest and most actively traded companies. "We see Asia accounting for 10 per cent of our total volume in the next five years," said Schwinn, hoping that regulatory changes would be made in India and China, opening the world''s largest economies to global financial tool trading environment.
Source: PTI
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