SINGAPORE: Singapore Exchange (SGX) and the London Metal Exchange (LME) launched LME-SGX copper, aluminium and zinc futures on Tuesday, Feb 15 which would provide retail investors in Asia and beyond easy access to global metals markets.
In a joint statement, they said the new futures contracts had attracted strong interest with three market makers and 20 active traders signed up to the initiative.
The market markers are GS Energy Partners LLC (from USA), Susquehanna Pacific Pty Ltd (from Sydney) and a market maker from Asia Pacific.
They said the futures will have 12 consecutive contract months listed for trading and will be cash settled at expiry based on the LME Official Cash Settlement Price for the relevant metal.
The trading hours for the new contracts will cover the Asian trading day (T-session) from 8am to 3.20pm Singapore time and the European trading day (T+1 session) from 4pm to 2am the following day, Singapore time. The contracts are traded and cleared exclusively on SGX.
In a joint statement, they said the new futures contracts had attracted strong interest with three market makers and 20 active traders signed up to the initiative.
The market markers are GS Energy Partners LLC (from USA), Susquehanna Pacific Pty Ltd (from Sydney) and a market maker from Asia Pacific.
They said the futures will have 12 consecutive contract months listed for trading and will be cash settled at expiry based on the LME Official Cash Settlement Price for the relevant metal.
The trading hours for the new contracts will cover the Asian trading day (T-session) from 8am to 3.20pm Singapore time and the European trading day (T+1 session) from 4pm to 2am the following day, Singapore time. The contracts are traded and cleared exclusively on SGX.
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