Published On: Thu, Jun 26th, 2014

Thailand Futures Exchange Plans To Terminate Silver Futures

Kesara Manchusree, President, SET

Kesara Manchusree, President, SET

Thailand Futures Exchange PCL (TFEX), under the Stock Exchange of Thailand group, is planning to remove silver futures from its trading board due to an absence of the London Silver Fixing benchmark which will terminate its business in August. The removal plan is seeking an approval from
The Securities and Exchange Commission (SEC).

Following the London Silver Market Fixing Limited announcement, it would cease to administer London Silver Fixing and a daily Silver Fixing Price with effect from close of business on August 14, 2014. As such, the termination will impact directly on silver futures trading on TFEX since the final settlement price of the futures is based on London Silver Fixing.

Due to an absence of the benchmark, TFEX, together with its members and market participants, has decided to terminate operation of the silver futures. This decision has already been approved by TFEX’s board of directors. The termination is undergoing permission process by the SEC and should be finalized by this early August.

Investors will not be affected by the removal as there is no trading of the derivatives nor open interest left at the moment. In the meantime, trading of silver futures will still be operating until the SEC gives the final approval.

TFEX will further notify investors for the termination process and final settlement price of silver futures.

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