OMX, the Nordic stock market operator has signed an agreement to provide clearing for the Singapore Exchange's derivatives and over-the-counter derivatives systems, set for launch in 2009, as regional bourses in Asia expand their business lines to remain competitive.

This week, Singapore outlined the rules for its New Board, a market segment for Asian growth companies that is to launch by the end of the year. The board will follow the London Alternative Investment Market's model, where companies list, without regulatory approval, based on a sponsor's assessment of their suitability.