Singapore Exchange has launched a slew of initiatives under CEO Magnus Bocker to Singapore relevant as a financial hub and growing Southeast Asia's biggest bourse. Most recently, China's second-largest private yard Yangzijiang Shipbuilding Holdings became the first Singapore-listed company to trade in Chinese yuan. Besides establishing Singapore as an offshore yuan centre, it also opens the door for more companies to offer dual-currency trading on the Singapore bourse. He plans to introduce more new products over the next few quarters, including foreign exchange futures and new ASEAN equity index futures. His forward-looking ideas have contributed to a strengthening bottomline and industry recognition. In the third quarter of 2013, it saw a 15 percent rise in revenue to $184 million and a 24 percent rise in net profit and earnings per share to $92 million and 8.6 cents respectively. SGX was recognised as the “Clearing House of the Year” and “Most Innovative New Contract Launch” at the Futures and Options World Awards for Asia 2013.