The competition for Singapore’s ETF market heated up this week as Deutsche Bank announced it is expanding its lineup from 5 to 25 ETFs, and among the new funds will be Asia’s first leveraged offering.

The S&P 500 Short (SIN:HD6) will follow the inverse of the the S&P 500 – the most widely traded US broad market index. Société Générale’s Lyxor is currently the market leader in Singapore with 18 funds listed and USD 740 million under management.

Germany’s largest bank is a major player in Europe, where its db x-Trackers brand trades on most major exchanges. In the US it licenses its commodities indices to Powershares. Singapore is its only presence in Asia.