The Singapore Exchange (SGX) has added UBS to AsiaClear as a new SGX bank clearing member, Mondovisione reports. UBS will be responsible for the clearing of over-the-counter (OTC) traded financial derivatives.

The move brings the total number of bank clearing members for the clearing of OTC traded financial derivatives on SGX AsiaClear to 11. SGX also expects to boost its clearing offering with foreign exchange forwards in the second quarter of 2011.

Click here for the story from Mondovisione.