The Singapore Mercantile Exchange will list a cash-settled West Texas Intermediate crude oil future when it opens for business in August.
The soon-to-be launched commodity exchange said yesterday (Wednesday May 2) that it would offer the futures in US dollars with a contract size of 1,000 barrels.
Thomas McMahon, CEO, said the oil product would be “the first step towards establishing a broad base and multiple product facility for energy hedging, trading and investing from Singapore.”
This is the...