The Asian Banker

SMX to launch E-Silver futures contract
Mar 07, 2013

Singapore, March 4th 2013 - Singapore Mercantile Exchange (“SMX”), the first pan-Asian multi-product commodity, energy and currency derivatives exchange, today announced that the precious metals futures contract “SMX E-Silver” will go live from Thursday, March 7th 2013. The SMX E-Silver futures contract is benchmarked against the most liquid Silver futures contracts globally. 

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.”

SMX went live on August 31, 2010 and its trading sessions span Asian, European and US business hours, with central counterparty clearing performed by SMXCC. The SMX platform allows remote participation through its diverse network of members and ISVs. The Exchange also offers its own proprietary front-end solution for direct market access.


Re-disseminated by The Asian Banker

Categories: Markets & Exchanges
Keywords: SMX

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