SMX to Launch E-Silver Futures Contract
With this new contract, market participants will be able to hedge their exposure based on one of the most liquid precious metals futures market globally. In addition, the market participants can also avail spread margin benefits between the SMX E-Silver futures (SMESILVER) and the existing SMX Silver futures (SMSILVERCS) leading to considerable savings in their collateral cost.
The SMX E-Silver contract offers a convenient trading unit of 30 kgs 999 fineness Silver, and is based on the India delivered Silver prices quoted in US dollars. Trading shall be conducted in March, May, July, September and December with five contracts being listed for trading at any time. The contract 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.
Mr. V Hariharan, CEO of SMX, said: “With the launch of E-Silver futures, SMX has expanded its basket of precious metal contracts, which offers an efficient hedging tool to physical players who have exposure to one of the largest precious metals markets globally.”