Singapore Mercantile Exchange, the fledgling commodities bourse, has received in-principle regulatory clearance from the Singaporean markets regulator, and hopes to begin trading early in the New Year.
“They’re looking at Q1,” an SMX spokesperson told Futures and Options Intelligence, after the Monetary Authority of Singapore’s decision. The bourse, which completed go-live testing in October, had originally hoped to launch before the end of 2009.
“The thing with getting approval at this time of year is a lot of trade is slowing down...