Singapore Exchange to license Topix indexes

The Tokyo Stock Exchange (TSE) has agreed to license Topix-related indexes to the Singapore Stock Exchange (SGX) to create derivatives and exchange-traded fund products.

Topix is a market capitalisation-weighted index comprising about 1,600 Japanese stocks listed on the first section of the TSE.

A spokesperson from the SGX told Risk News that there is no specific timeline for the introduction of the products. The two exchanges will start immediate discussions on implementing the collaboration, and will explore the establishment of a trading and clearing link for both countries’ derivatives markets, initially focusing on Topix products and Japanese government bonds.

The SGX said in a statement that the collaboration stems from the exchanges’ recognising the importance and benefits of alliance among Asian bourses.

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