London Metal Exchange and SGX to launch metals futures in Asia
Posted by eltee.de • Thursday, July 29. 2010 • Category: Trader Notizen
28 July 2010 - The London Metal Exchange (LME) and Singapore Exchange (SGX) today said they are jointly developing cash-settled mini monthly metals futures contracts to be traded and cleared through SGX.
The collaboration will broaden distribution into Asia for the LME, the world’s leading market for non-ferrous metals. SGX will be the first market in Asia to make available to investors – including individuals – metals futures priced off global benchmark prices from the LME.
An initial suite of futures contracts will be launched for selected non-ferrous metals and steel billet, allowing retail investors to trade and manage their risk exposures during this time zone.
Mr. Magnus Bocker, CEO of SGX said, “We are delighted that our discussions with the LME have resulted in a collaboration to offer metals futures contracts to our customers. These contracts will create increased trading, hedging and arbitraging opportunities at a time of strong interest in metals trading in Asia. They also further add diversity to our commodities suite and extend our lead as a major Asian commodity trading centre.”
Mr. Martin Abbott, Chief Executive of LME said, “We are happy to announce this exciting development. We believe this will encourage a new group of market participants in the region who will, through this collaboration and provision of mini futures contracts jointly with the SGX, benefit from local access to the LME’s globally accepted benchmark price in non-ferrous metal and steel.”
The copper and zinc futures contracts are expected to be launched by the first quarter of 2011, followed by other metals contracts later in the year, subject to regulatory approval.
For further information, please contact:
Stephen White
Business Manager Corporate Affairs, LME
t. +44 (0)20 7264 1701 / +44 (0)7980 661 724
e. stephen.white@lme.com
Laurel Teo
Financial Dynamics
t. +65 6224 2987 / 8228 1061
e. laurel.teo@fd.com
Carolyn Lim
Communications, SGX
Tel : (65) 6236 8139
Email : carolyn.lim@sgx.com
About Singapore Exchange
Singapore Exchange (SGX) is among the world’s largest exchanges and Asia’s second largest listed exchange. As the Asian gateway, SGX is the market of choice for investors wanting to participate in Asia’s vibrant and rapidly-growing economies, and for Asian issuers seeking international capital.
SGX's extensive suite of securities, derivatives and commodities products makes it Asia’s most international exchange. SGX's services range from listings, trading, high-speed market access, clearing and settlement to depository services and Central Counter Party services for OTC traded derivatives. With the region's longest trading hours, and powered by cutting edge technology, SGX is the unparalleled conduit for investment flows into and out of Asia.
For more information, please visit www.sgx.com
About the London Metal Exchange
The London Metal Exchange is the world's premier base metals market. It offers metals price risk management tools including futures and options contracts for aluminium, copper, tin, nickel, zinc, lead, aluminium alloy and NASAAC, steel billet, plastics and the minor metals - cobalt and molybdenum. In 2009, the total value of trading was $7.41trillion, and the Exchange finished the year with 5.96m tonnes of material on warrant in 633 storage facilities across 39 locations globally.
http://www.lme.com/
Source: http://www.lme.com
The collaboration will broaden distribution into Asia for the LME, the world’s leading market for non-ferrous metals. SGX will be the first market in Asia to make available to investors – including individuals – metals futures priced off global benchmark prices from the LME.
An initial suite of futures contracts will be launched for selected non-ferrous metals and steel billet, allowing retail investors to trade and manage their risk exposures during this time zone.
Mr. Magnus Bocker, CEO of SGX said, “We are delighted that our discussions with the LME have resulted in a collaboration to offer metals futures contracts to our customers. These contracts will create increased trading, hedging and arbitraging opportunities at a time of strong interest in metals trading in Asia. They also further add diversity to our commodities suite and extend our lead as a major Asian commodity trading centre.”
Mr. Martin Abbott, Chief Executive of LME said, “We are happy to announce this exciting development. We believe this will encourage a new group of market participants in the region who will, through this collaboration and provision of mini futures contracts jointly with the SGX, benefit from local access to the LME’s globally accepted benchmark price in non-ferrous metal and steel.”
The copper and zinc futures contracts are expected to be launched by the first quarter of 2011, followed by other metals contracts later in the year, subject to regulatory approval.
For further information, please contact:
Stephen White
Business Manager Corporate Affairs, LME
t. +44 (0)20 7264 1701 / +44 (0)7980 661 724
e. stephen.white@lme.com
Laurel Teo
Financial Dynamics
t. +65 6224 2987 / 8228 1061
e. laurel.teo@fd.com
Carolyn Lim
Communications, SGX
Tel : (65) 6236 8139
Email : carolyn.lim@sgx.com
About Singapore Exchange
Singapore Exchange (SGX) is among the world’s largest exchanges and Asia’s second largest listed exchange. As the Asian gateway, SGX is the market of choice for investors wanting to participate in Asia’s vibrant and rapidly-growing economies, and for Asian issuers seeking international capital.
SGX's extensive suite of securities, derivatives and commodities products makes it Asia’s most international exchange. SGX's services range from listings, trading, high-speed market access, clearing and settlement to depository services and Central Counter Party services for OTC traded derivatives. With the region's longest trading hours, and powered by cutting edge technology, SGX is the unparalleled conduit for investment flows into and out of Asia.
For more information, please visit www.sgx.com
About the London Metal Exchange
The London Metal Exchange is the world's premier base metals market. It offers metals price risk management tools including futures and options contracts for aluminium, copper, tin, nickel, zinc, lead, aluminium alloy and NASAAC, steel billet, plastics and the minor metals - cobalt and molybdenum. In 2009, the total value of trading was $7.41trillion, and the Exchange finished the year with 5.96m tonnes of material on warrant in 633 storage facilities across 39 locations globally.
http://www.lme.com/
Source: http://www.lme.com
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