Taiwan-based SinoPac now a member of ICE Futures Singapore

The Intercontinental Exchange announced that the Taiwan-based SinoPac Futures Corporation is now an official member of the ICE Futures Singapore.

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SinoPac Futures Corporation is now an official member of the ICE Futures Singapore, the global exchange network operator Intercontinental Exchange announced.

The firm, a subsidiary of SinoPac Holdings, was established in 1994 and specialises in facilitating futures transactions.

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According to SinoPac Futures Corporation Chairperson Huang-Chi Yeh, the membership will allow the firm to further expand their business in Asia and cement their position as a leading trading company in Taiwan.

"Furthermore, by working with ICE Singapore, we would envision a great future which will benefit our customers participating in the market," he was quoted saying in Business Wire.

Meanwhile, ICE Futures Singapore and ICE Clear Singapore President and Chief Operating Officer Lucas Schmeddes noted how SinoPac's membership would be beneficial for both parties.

"We are seeing increased interest from Taiwan and are working closely with the FCM community to serve investors in the Taiwanese market and beyond across our commodity and financial markets," he said.

ICE has a presence in Singapore for around 17 years already since 200. In 2015, ICE founded ICE Futures Singapore, an approved exchange platform under the supervision of the Monetary Authority of Singapore.