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Rosy futures in Singapore

Singapore's emergence as the undisputed Asia-Pacific futures trading centre is creating demand for traders, as well as support staff in risk management, technology, sales, compliance and operations.

Dennis Koh, Singapore based Managing Partner of Goshen & Staines, an executive search firm, says successful proprietary traders (including those who trade futures and/or foreign exchange, interest rate and energy markets) with three to five years' experience can make US$53,000 to US$115,000 before bonus/profit sharing.

"However, bonus/profit sharing plays a huge role in the total pay package with rewards related to trading performance," says Koh.

A head of proprietary trading desk with eight plus years' experience makes US$160,000, before bonuses. In good years bonuses are likely to amount to 50 per cent to 100 per cent of salaries.

The authorities have been giving job creation a boost. Rama Pillai, Head of Members & Institutions Business, at Singapore Exchange (SGX) says qualified brokerages and proprietary trading firms who set up in Singapore are being offered subsidies and tax incentives.

SGX and its regulator the Monetary Authority of Singapore, has over the past 18 months successfully attracted electronic trading hubs from the world's major futures exchanges, including CME, CBOT, Euronext Liffe, Eurex and SFE. This in turn has attracted global proprietary trading firms, trading arcades and hedge funds such as Transmarket, Saxon, Schneider, and Tudor.

Global information system vendors and data providers such as Patsystems, Trading Technologies, Realtime Systems Group and have also established or expanded regional operations as more of their clients open in Singapore. Candidates with sales/marketing or operations skills and who have regional experience are in demand as a result, says Pillai.

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