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First FX Futures Corridor Launched Between Singapore & Brazil
First FX Futures Corridor Launched Between Singapore & Brazil
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Singapore Exchange (SGX Group) and Brazil's B3 have launched Brazilian Real (BRL) futures, marking SGX's strategic push into emerging markets beyond Asia. The partnership leverages SGX's FX ecosystem to enhance global participation in BRL futures and improve liquidity during Asian trading hours.
Michael Syn, President of SGX Group, emphasized the initiative's role in providing round-the-clock exposure management for global investors. Gilson Finkelsztain, CEO of B3, highlighted the contract's appeal to Asian investors as a bridge between two major financial hubs.
The move comes as Asia's trade ties with Brazil demand more efficient financial instruments, though the announcement notably lacks direct cryptocurrency implications.
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