SGX together with LME to launch metal futures in Asia

The Singapore Exchange (SGX) said on Wednesday that it will partner the London Metal Exchange (LME) to jointly launch metals futures in Asia.

The exchanges will jointly develop cash-settled mini-monthly metals futures contracts to be traded and cleared through SGX, a joint statement by the two exchanges said.

SGX will also be the first market in Asia to make available to investors including individuals for metals futures priced off global benchmark prices from the LME.

An initial suite of futures contracts will be launched for selected non-ferrous metals and steel billet, allowing retail investors to trade and manage their risk exposures during this time zone.

The Copper and Zinc futures contracts are expected to be launched by Q-1 Y 2011, followed by other metal contracts later in the year, subject to regulatory approval.—Paul A. Ebeling, Jnr. www.livetradingnews.com

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