The Singapore Exchange (SGX), has signed an agreement with Dow Jones Indexes to develop the first Asian-listed exchange-traded credit derivative contracts.

SGX hopes to launch its first contracts by the middle of this year, and to collaborate with other exchanges, creating a global marketplace for credit derivative futures. According to Lars Hamich, executive director of global business development at Dow Jones, the Dow Jones Trac-x Indexes group is talking to other exchanges in Europe and the US, and intends to have separate licence agreements in the three regions.