Singapore Exchange (SGX) has announced the appointment of Mark Leahy as Head of Fixed Income. In this role, Mark Leahy will be responsible for executing the strategy for SGX’s bond trading business, SGX Bond Pro, including driving institutional participation. He will also continue to strengthen SGX’s Asia leadership in bond listings, maintaining the growth momentum with SGX on track to exceed its FY2017 listings record.
Leahy has more than 27 years’ experience in fixed income trading, syndication and capital markets and played key roles in the development of the fixed income franchises of several major international banks in the region, including Nomura International, as Head of Debt Capital Markets and Syndication for Asia Pacific, Deutsche Bank as Asian Regional Head Global Risk Syndicate, and UBS as Asian Regional Head Fixed Income Syndicate.
SGX also today announced that SGX Bond Trading Pte. Ltd will assume the General Counterparty role for SGX Bond Pro from mid-2018, thereby providing a unique trading and post trade solution for the Asian bond market. This role enables the execution of client trades on SGX Bond Pro while maintaining full pre and post trade anonymity between trading counterparties.
Since its launch at the end of 2015, SGX Bond Pro has grown its participant base and now sees active institutional participants across Singapore, Hong Kong, Taiwan, Philippines, Korea, Malaysia and Indonesia, along with the UK and Switzerland. SGX continues to increase connectivity and overall market liquidity and, with this principal settlement role, is now better positioned to serve its clients.
Commenting on today’s announcement, Chew Sutat, Head of Equities and Fixed Income, said:
We are delighted to welcome Mark to SGX and I am confident that his market experience and domain expertise will be invaluable to the growth of SGX’s fixed income business and the continued development of SGX Bond Pro.
The initiative to take over the role of General Counterparty is a natural evolution for SGX and is testament to the traction we have made in many key markets over the past two years. It is supported by client feedback, and underpinned by our commitment and execution in securities post-trade services.
SGX has appointed Standard Chartered Bank as the sole settlement agent bank for SGX Bond Trading Pte. Ltd. The Bank will provide transaction securities services support and ensure a seamless post trade process.
Patrick Lee, Head, Global Banking, Singapore, Standard Chartered Bank, commented:
We are privileged to be appointed as the settlement agent bank for SGX Bond Pro. This appointment reinforces Standard Chartered’s position as the market leader for securities clearing services in Singapore and the region and we look forward to partnering with SGX and industry participants to further develop both Singapore and Asia bond markets.
SGX is Asia’s most international debt securities listing venue with more than 80% of the total listed bonds from foreign issuers.