Thursday, April 12, 2012

SMX to launch new gold and silver futures contracts

SINGAPORE: The Singapore Mercantile Exchange (SMX) has said it will be launching new gold and silver futures contracts with effect from May 8.

The "SMX E-Gold" and "SMX E-Silver" contracts are cash settled against the benchmark Gold and Silver futures contracts in India, but quoted in US dollars.

Both contracts will be available for trading across multiple time zones, allowing participants in Asia, Europe and the US to trade the contract during their respective trading hours.

SMX said market participants will be able to hedge their exposure based on one of the most liquid precious metals physical and futures market and also link their hedging to other liquid precious metals contracts in the world.

They will also be able to optimise margin benefits across the benchmark contracts leading to considerable savings in their trading cost.

- CNA/cc

View the original article here

Source From Channel News Asia

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