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MSCI Singapore Free (SGD) Index Futures

Introduction

The MSCI Singapore Free Index is designed to measure the performance of the large and mid cap segments of the Singapore market and uses foreign" prices instead of local prices when available.  As at 31 August 2020, there are 22 constituents, the index covers about 85% of the free float-adjusted market capitalization in Japan. 

Uses of MSCI Singapore Free (SGD) Index Futures

The introduction of the MSCI Singapore Free (SGD) Index Futures contract aims to meet the trading and hedging needs of investors who have exposure to large and mid-cap companies in Singapore in a cost effective manner.  Asset managers and banks can make use of MSCI Singapore Free (SGD) Index Futures for cash equitisation and manage market, settlement and liquidity risks without cross zone trading issue. 

The constituent list and vendor codes can be found in MSCI websites https://www.msci.com/constituents and https://www.msci.com/ticker-codes respectively. 

The Commodity Futures Trading Commission (CFTC) has certified the MSCI Singapore (SGD) Index Futures contracts to be offered and sold to persons in the U.S.


Updated 14 Oct 2020


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CONTRACT SUMMARY

Item Contract Terms
Underlying Index MSCI Singapore Free Index
HKATS Code MSG
Trading Currency SGD 
Index Currency SGD
Contract Multiplier SGD 100 per index point
Minimum Fluctuation 0.05
Contract Months Spot, next calendar month and the following 4 quarterly months
Trading Hours
9:00am-4:30pm (T); 5:15pm-3:00am (T+1)
(Expiring contract month closes at 4:30 pm on the Last Trading Day)

Last Trading Day Second last Hong Kong business day of the month.  If it falls on a Singapore public holiday, the LTD will be the preceding Hong Kong and Singapore business day
Final Settlement Price

The value of the MSCI Singapore Free Index computed based on the Special Quotation[1] methodology applied on each component stock of the Index on the Singapore business day following the LTD, rounded up to the nearest 2 decimal places if the figure in the third decimal place is 5 or above and rounded down to the nearest 2 decimal places if it is below 5



The Special Quotation is calculated by MSCI using the first traded price of each component stock in the MSCI Singapore Free Index on the day following the Last Trading Day, irrespective of when these stocks first trade on the SGX trading day. If any component stock is not traded by SGX market close on the day following the Last Trading Day, the last official closing price of that stock will be used to calculate the Special Quotation.

 
Transaction Costs Exchange Fee SGD 1.40
Commission Levy SGD 0.10
Commission Rate Negotiable

Updated 08 Oct 2020

TRADING FEES AND COMMISSION

Trading Fee and Levies
Exchange Fee SGD1.40 per contract per side
Commission Levy SGD0.10 per contract per side
Investor Compensation Levy* HK$0.00 per contract per side
Total SGD1.50 per contract per side
Commission Negotiable
The amount indicated above is subject to change from time to time.

Updated 24 Sep 2020

Updated 14 Oct 2020