KGI Securities Singapore joins ECC as the first General Clearing Member in Asia

European Commodity Clearing (ECC) has welcomed KGI Securities Singapore, the first General Clearing Member (GCM) from Asia-Pacific.

As a GCM, KGI is authorised to provide clearing services for all customers of EEX Group’s clearing house as well as for all products and markets cleared by ECC.

"Becoming the first General Clearing Member from the Asia-Pacific region at ECC marks a significant milestone in KGI Securities Singapore' global strategy,” said Ken Ong, KGI Securities (Singapore) CEO. “This collaboration strengthens our commitment to providing comprehensive clearing solutions and seamlessly connecting our clients to the Global energy and commodity markets. We are proud to partner with ECC and contribute to the increasing interconnectedness of global trading."

Dr Tobias Paulun, CEO of ECC, comments: “The admission of KGI Securities Singapore is an important milestone for ECC, given our increasing focus on the Asia-Pacific region. It also enables us to widen our international network of participants and the availability of services to trading communities.”

With this admission, ECC now connects a total of 32 clearing banks across Europe, North America and the Asia-Pacific region, including 29 GCMs and 3 Direct Clearing Members (DCMs).

European Commodity Clearing (ECC) is a central clearing house which specialises in energy and commodity products. ECC assumes the counterparty risk and guarantees the physical and financial settlement of transactions, providing security and cross-margining benefits for its customers. As part of EEX Group, ECC provides clearing services for EEX, EEX Asia and EPEX SPOT and for the partner exchanges BSP, HUPX, HUDEX, NOREXECO, SEEPEX and SEMOpx. For more information, please visit www.ecc.de