Published On: Fri, Apr 29th, 2011

Thai Bourse to Trade Silver Futures on June 20 and to Extends Hours in Gold

On June 20, the Thailand Futures Exchange PLC (TFEX), part of The Stock Exchange of Thailand, will begin trading silver futures and extend gold and silver futures trading until 22.30 hours.

“TFEX will complete the joint system test with its members within May and hold seminars from May through July, featuring expert lecturers from overseas and TFEX members, to enhance investors’ knowledge on silver futures trading,” revealed TFEX Managing Director Kesara Manchusree.

Silver futures uses 99.9% pure silver as its underlying asset, which is a standard purity level for trading in the international markets. The contract size is set at 100 troy ounces (approx. 3 kgs.), worth around THB140,000 (approx. USD4,600). The silver futures settlement method will be cash settlement, using the London Silver Fixing Price as the reference price.

Also starting July 20, TFEX will extend trading hours for gold and silver futures, starting from 19.30-22.30 hours, to match those of the New York market for precious metals. This time extension will help gold and silver futures investors follow trading movements and adjust their investment portfolios in time. Trading made during the extended hour will be combined with the following day’s transactions and settled on the next following business day.

“Due to the popularity of investment in precious metals, TFEX strongly believes that silver futures will receive great attention from investors. It is easier and faster than investing in actual silver coins or bars and can be used to diversify investment portfolios. In addition, extending the trading hours of gold and silver futures increases the attraction of both products and helps investors better manage risks from trading,” concluded Ms. Kesara.

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