Tuesday, 8 October 2019

Futures and options in Singapore

Okay, okay. When was the last time I wrote about finance in Singapore? 'Oh, ages ago, boss.' Yeah, probably, Voice. Uh ... 'Never mind, eh?' Ha! Don't be sad, man. I've got a PR email about it. 'Yippee!' Yes! / Yes, yes, yes!

SINGAPORE, October 7, 2019 - INTL FCStone Inc. (NASDAQ: INTL) today announced that its Singaporean subsidiary INTL FCStone Pte Ltd ("IFP") has met all conditions of the Asset Purchase Agreement it entered into on 18 March 2019 (the "APA"), and completed the acquisition of the futures and options brokerage and clearing business of UOB Bullion and Futures Limited, a subsidiary of United Overseas Bank Limited.

Well, well ... ask the cosmos and you shall receive. 'Were you asking for an email about Singapore, boss?' Er, no. 'Oh.' Yeah. But I'm happy, you dig? It's better than writing about parcels, for Christ's sake! 'Leave Jinksy alone!' I'm joking. I'm joking.

Jesus. [Save me!] I can't even have a laugh any more, dear reader(s). / Actually, everyone is so sensitive these days. Don't you think? Even Voice on Jinksy's behalf. 'Ha!' Well, ain't that always the way? It's always someone on, uh ... someone else's behalf. I mean, I know that Jinksy has got a sense of humour. I reckon - 'Boss, can we get on with the email, please? Time is money.' Yeah, yeah.

As part of the acquisition, IFP upgraded its Capital Markets Services license in Singapore so it can offer full service brokerage encompassing dealing in exchange-traded derivatives contracts, over-the-counter derivatives contracts and spot foreign exchange contracts for the purposes of leveraged foreign exchange trading. IFP was also admitted as a Trading Member of Singapore Exchange Derivatives Trading Limited ("SGX-DT") and Clearing Member of Singapore Exchange Derivatives Clearing Limited ("SGX-DC").

Okay, er ... well, at least parcels are something I understand. / Let's be honest, dear reader(s) ... you order something, a man or a woman comes to your house in a van, they give you a parcel, and then you open the parcel, you take the stuff out, you throw the box away, and then you carry on with the rest of your day. What's not to like? Do you know what I mean?

Anyway, let's hear from Greg. Maybe he'll talk some sense ...

Greg Kallinikos, Chief Executive Officer of IFP and Deputy CEO, Asia for INTL FCStone Group, comments on the closing of the transaction, "The successful completion of our acquisition of UOB Bullion and Futures Limited's F&O business in Singapore marks the beginning of a new, exciting era for INTL FCStone in Asia. We are both thrilled and honoured by the prospect of serving our new customers and look forward to building long lasting relationships with all of them. This transaction significantly enhanced our regional and international capabilities with the addition of SGX as another major exchange we now offer clearing and execution services on. This is an important milestone in expanding INTL FCStone's presence in Asia and fully supports our plans of offering a one-stop solution for all our customers' market access needs for listed derivatives globally."

All right, Greg. Nice one! (I suppose.)


Anything else? Music? Oh, that new tune? I've decided to put it on the first album, kook(s). (I've found a good position for it.) That will give me twelve tracks at roughly fifty and a half minutes. Of course, I need a lyric for the tune, and I need to finish the lyric for Good Times/Bad Times. It will be the greatest album ever - !!! / I just wish I could play the guitar like John Mayer. All my troubles would be over then. 'Ha! You need to practice more, boss.' Ha! I don't have the bloody time, Voice. 'Ha! Make time.' Yeah, yeah.

Oh, I've had a crazy idea ... what if I recorded just one album, the Citizen Kane of albums, like, and then only released singles for the rest of my career? I mean, great singles, obviously, you dig? 'Er ... I don't know.' It might work.

No, it's a crazy idea. Never mind.