SinoPac Futures, which is a part of Sinopac Holdings, was founded in 1994 and transacts futures business on behalf of clients and its own accounts. Its head office is in Taipei City.
“With this new membership to ICE Futures Singapore exchange, we are now able to further expand our business in Asia and consolidate our position as a leading trading company in Taiwan,” said Huang-Chi Yeh, chair of SinoPac Futures. “Furthermore, by working with ICE Singapore, we would envision a great future that will benefit our customers participating in the market.”
ICE has had a presence in Singapore since 2000 with ICE Futures Singapore established in 2015.
“We are pleased to welcome SinoPac as a member of ICE Futures Singapore,” said Lucas Schmeddes, president and chief operating officer, ICE Futures Singapore and ICE Clear Singapore. “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.”
The addition of SinoPac Futures takes ICE Future Singapore membership up to five firms.
The other members are JP Morgan, KGI Futures, Phillip Futures and UOB Bullion and Futures. JP Morgan was the last new member, taking clearing membership in September 2016.