The Singapore Exchange is set to become the first Asian bourse to trade European-based futures contracts, the latest in a series initiatives undertaken by the group to develop itself as a gateway venue to eastern markets.

SGX today revealed it had partnered up with Eurex, Deutsche Borse's derivatives exchange, to launch futures contracts based on the Euro Stoxx 50 Index - an indicator which includes a range of blue-chip stocks from 12 eurozone countries.