Published On: Wed, Jan 23rd, 2013

Trading Volumes on SMX Grew Steadily in 2012

V Hariharan, CEO SMX

V Hariharan, CEO SMX

Singapore Mercantile Exchange (SMX), the first pan-Asian multi-product commodity and currency derivatives exchange, announced 23 January that the cumulative volumes since launch were propelled from 63 billion USD a year ago to 134 billion USD by the end of 2012.

The Exchange which added two of its more successful products to its suite of offerings, the world‟s first Black Pepper futures and the E-Gold futures (based on the Indian gold prices) in 2012 has seen an annual turnover of over 71 billion USD in 2012. SMX has also won several accolades from industry associations including 3 awards at the FOW Awards for Asia 2012. While membership has increased by over 25% in the past year, there has been a broader participation from within the region and beyond, attributed to the new membership categories introduced last year. With over 4 million contracts traded on the Exchange since its launch in August 2010, the end of 2012 saw a cumulative turnover of over 134 billion USD since SMX went live.

During the year 2012, the average daily volumes have been over 8,200 contracts, with a peak volume of 30,075 contracts. On the products front, the newly launched contacts have been consistently gaining momentum. The Exchange has seen 5 successful delivery cycles of Black pepper with over 150 MT of the Exchange specified grade of Black pepper delivered Ex-Approved bonded warehouse in Vietnam. The E-Gold futures contract which was launched in June 2012 has seen a gradual but sustained increase in trading with interest in the product increasing over the past few months. Anchor products at the Exchange such as the EUR-USD currency futures, the Copper futures and the world‟s first Iron ore futures based on the Metal Bulletin Iron Ore Index have continued to gain momentum as well.

The Exchange also introduced spread contracts with the first set based on the Copper contract. Mr. V Hariharan, CEO of SMX, said: “The past year has been a challenging yet interesting time globally. For SMX, the past 12 months have been a time to consolidate and adapt to market requirements and feedback. While we have seen growth in some areas, we are still committed to overcoming the challenges we face in others. We hope the new products in the pipeline will complement the existing offerings on the Exchange and SMX will continue to maintain its pan Asian appeal with Asia centric contracts available for trading in the Asian time zones.”

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