SGX to fight newcomer SMX with wider commodities offering
The Singapore Exchange will offer more commodities products next year, as it prepares to face competition from the new Singapore Mercantile Exchange, which is expected to open for tradingearly next year.
SGX’s new chief executive Magnus Böcker announced the bourse’s plans at a Futures Industry Association conference in Singapore on December 3. “Come first quarter next year, we will be launching the Fuel Oil 380 CST futures, and our subsidiary, Singapore Commodity Exchange, will be expanding their product base to include gold, coffee and the clearing of OTC rubber contracts.”
SGX has previously refused to...