Singapore Exchange (SGX) has been named Exchange of the Year for a second straight year by Energy Risk at its annual Asia awards held in Singapore on Wednesday.
The award was meant to laud SGX for reaching a number of milestones over the past year, including reaching record volumes in coking coal, clearing the world-first coking coal options contract and launching the first USD-priced Styrene Monomer and Monoethylene Glycol swap contracts.
SGX was specifically praised by Energy Risk for progress in its multi-asset model and the value that this is delivering to a growing group of market participants, the bourse operator said in a press release.
"The team has worked hard to enhance the liquidity pipeline for our clients across the steel value chain, while meeting market demand for new risk management tools amidst increased volatility in commodity markets," William Chin, Head of Commodities at SGX said in a statement.
October coking coal volumes were up 81 times year-on-year, and record open interest of over 1.4 million metric tonnes was achieved at the end of June 2017.
Energy Risk highlighted SGX's ability to collaborate with the community to innovate with new products and grow the market as a whole.