DBS to start commodity trading on London Metal Exchange
The London Metal Exchange is the biggest marketplace for industrial metals in the world.
DBS has started commodity trading on the London Metal Exchange (LME) on the back of rising global metal prices, according to a Reuters report.
DBS is the first Asian bank to be issued bourse membership registered outside London.
“Metals are an essential enabler to achieve a sustainable future, and as global demand for the commodity continues to grow exponentially, so will expectations on the industry's sustainability standards," said DBS' Group Head of Institutional Banking, Tan Su Shan.
As one of the cour current LME Category 4 members, DBS can trade for its own account and on behalf of its clients, but without a clearing ability.