ETFs hit the Singapore market today, the initial fruit of a joint venture between the American Stock Exchange (Amex) and the Singapore Exchange (SGX). The five ETFs traded a volume of 35,870 shares with a total value of $4,349,358, with the lion's share of activity in the S&P 500.

How were products selected for the SGX?

"There was no formal market study, but there were discussions with institutions in the region and here," said an Amex spokesperson.

The firms plan on adding approximately 20 more ETFs by the end of the year, although they have no set release schedule. The funds will be introduced gradually after the success of the current offerings can be better measured.

"The reason for that is investor education, which basically means making sure that we get the marketplace ready for the products and making sure that investors know how to use them," said the spokesperson.

EFTs, whose history goes back to 1993 in the United States, have only just recently entered the Asian market. The joint venture is starting by targeting financial intermediaries rather than launching a broad-based consumer-oriented campaign.

ETF	Total Volume (shares)	Total Dollar Value (USD)
S&P 500 SPDRs	20,060	$2,513,801
iShares S&P 500 Index Fund	10,030	$1,257,262
DJIA DIAMONDS	5,250	$567,700
iShares Dow Jones U.S. Technology Sector Index Fund	130	$8,375
iShares MSCI Singapore Index Fund	400	$2,220

 

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