SGX Consults Public on Introduction of Lead, Tin and Steel Billet Futures
Singapore Exchange (SGX) is consulting the public on the proposed introduction of new metals futures contracts, namely lead, tin and steel billet, for trading on SGX’s derivatives market.
The proposed new contracts will expand SGX’s current suite of commodities contracts, in addition to the first three LME-SGX metal contracts (Copper, Aluminium and Zinc) to be launched on 15 February.
With Asia becoming a hub for commodities, these new contracts cater to increasing investor interest in metals trading and provide market participants additional investment opportunities during the Asian trading hours.
The introduction of new futures contracts arises from SGX’s partnership with the London Metal Exchange (LME). These new contracts are standard, cash-settled metals futures contracts based
on settlement prices from LME.
The consultation paper on the proposed introduction of the LME-SGX metals futures, which details the rationale and proposed contract specifications, will be available on the SGX website www.sgx.com from today. Market participants and members of the public can send in their comments and suggestions on the proposed contracts from today until 9 February 2011 via email and either by post/courier or fax to:
Post/Courier: Singapore Exchange
2 Shenton Way, SGX Centre 1
#19-00, Singapore 068804
Attn: Gavyn Pang
Fax: +65 6534 2207