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Citigroup Global Markets Singapore Securities enhances global footprint; adds to growing list of clearing members on SMX SINGAPORE, March 29, 2012 /PRNewswire-Asia/ -- Singapore Mercantile
Exchange (SMX), the first pan-Asian multi-product commodity and currency derivatives exchange, today announced that Citi has become active on SMX as a General Clearing Member. Acting via
Citigroup Global Markets Singapore Securities, Citi is now able to trade and clear for its global customers on SMX. Existing and prospective Broker Members and Trade Members of SMX now have
a larger pool of Clearing Members to clear their trades. Mr Conor Cunningham, Head of Listed Derivatives for Asia Pacific, Citi, said: "With this development, Citi aims to better
facilitate the trading and clearing of derivatives for its customers in the Asia Pacific region and globally. Citi is committed to Singapore as a major global financial centre and supportive
of initiatives to give clients greater transparency and security in trading and clearing derivatives. This is an important step forward for Citi as we broaden our connectivity to trading
and clearing venues across the region. It reinforces Citi's strategic commitment to the derivatives clearing business globally". Mr. V Hariharan, Chief Executive Officer of SMX,
said: "We are delighted to have Citi become an active General Clearing Member. Their reach in the international marketplace will help us expand the global trade participation we
currently have on our Exchange. Citi's participation underlines the potential the Exchange has in advancing growth in trading in the Asian marketplace. We look forward to working
closely with Citi to expand the liquidity pool within the Asian time zone in products aligned to Asian trade flows." Citi is a leader in the Markets business in Asia Pacific, offering
clients leading solutions across, equities, fixed income, commodities and currencies in 18 markets including plain vanilla and structured solutions using derivatives. With operations in over
100 countries, local trading desks in over 80 countries and connections with over 400 clearing systems, Citi has the global footprint along with the local presence and expertise to serve
clients' evolving needs. SMX went live for trading on 31st August 2010. Its electronic platform offers multi-currency and multi-asset clearing, trading, and pricing for contracts with
guaranteed settlement and delivery. Currently, its product suite consists of 13 products including two crude oil benchmarks, Brent Crude priced in Euros and West Texas Intermediate (WTI)
Crude Oil, currency pairs -- Euro-US Dollar, AUD-USD, USD-JPY and GBP-USD currency futures, the first Gold futures contract in Singapore to be settled via physical delivery, a cash settled
Gold futures contract, a Silver futures contract, a Copper futures contract as well as the world's first globally traded iron ore futures based on the Metal Bulletin Iron Ore (MBIO)
Index and the world's first global Black Pepper futures contract. About Singapore Mercantile Exchange (SMX) Singapore Mercantile Exchange is a pan-Asian multi-product commodity and
currency derivatives exchange situated in Singapore. It offers a comprehensive platform for trading a diversified basket of commodities including futures and options contracts on precious
metals, base metals, agriculture commodities, energy, currencies and indices. SMX offers market participants the benefits of market transparency, time zone convenience, price discovery and
benchmarking, price risk management and multiple connectivity options. Counterparty clearing and settlement risk is effectively managed through its clearing house, the Singapore Mercantile
Exchange Clearing Corporation. The regulator of Singapore's financial markets -- the Monetary Authority of Singapore (MAS) -- has granted SMX 'Approved Exchange' status since
2010. SMX is backed by the world's leading creator of exchanges -- Financial Technologies (India) Limited -- which has successfully established 10 exchanges across India, Dubai,
Singapore, Africa, Mauritius and Bahrain. SMX is a member of leading international derivatives industry associations, such as the Futures Industry Association (FIA), the Swiss Futures and
Options Association (SFOA), the Association of Futures Markets (AFM) and the Futures and Options Association (FOA). More information is available at www.smx.com.sg About Citi Citi, the
leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides
consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking,
securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com. SMX Contacts For business enquiries: Ashok Rout
Chief Business Officer Tel: +65-6590-3700 Email: [email protected] For media enquiries: Hasmita Rajan Marketing Communications Tel: +65-6590-3754 Email: [email protected] Citi
Contacts For business enquiries: Christopher Day Regional head of ETD Sales Citi Tel: +852-2501-8375 Email: [email protected] For media enquiries: Adele Tan Vice President, Corporate
Affairs Citi Singapore Tel: +65-6657-5741 Email: [email protected] SOURCE Singapore Mercantile Exchange