i have seen Brent oil future singapore marker many times. however, i wonder what is the reason for introducing different markers in the future market.
The exchange hopes that people will reference their new markers as the referenced price index in OTC derivative contracts or in physical supply contracts - the idea being that the marker provides an independent and fair assessment of the market at a point in the day relevant to the local market (2:30pm NYC time when ICE Brent settles is the middle of the night in Singapore).
If the marker does start to be referenced, it will generate business for the exchange as people need to trade in the market at the time of assessment to hedge themselves.
Because exchanges believe there is enough demand for market participants to generate meaningful profits for them.