Singapore exchange increases presence in China market

Singapore Exchange Ltd, Southeast Asia's biggest bourse, will hire more people in China as it seeks to sell more of its products in Asia's largest equities market, Chief Executive Officer Magnus Bocker said.

SGX will appoint a senior executive in China to build its business and relationships, Bocker said in an interview last week. The bourse posted its first quarterly profit growth in more than a year in the third quarter of 2014 after a world-beating rally in Chinese stocks spurred demand for hedging instruments. Revenue from derivatives jumped 46 percent, spurred by a 183 percent surge in volume on Chinese stock futures, according to the exchange.

SGX wants more global investors to use its Chinese products, "whether it's China A50, indexes or commodities," Bocker, 53, said at SGX headquarters. "We need to grow our headcount in China. We will more than double what we have today in the next few years."