Written by Dow Jones & Co, Inc
Tuesday, 17 August 2010 14:46
Singapore Mercantile Exchange said Tuesday that it will commence trading of gold futures, West Texas Intermediate crude oil, Brent crude oil and eurodollar futures contracts on Aug 31 and implied there could be additional contracts launched at the same time, but didn’t specify which these might be.
“The first phase of product launches will be followed by multiple product launches to be introduced in the market after consultation with industry participants,” it said in a statement.
The launch of the SMX reflects increasing competition for Asian commodities business with major global exchanges like CME Group Inc. (CME) and the London Metal Exchange, both of which are expanding operations in Asia.
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