SMX to be launched in mid 2010

The Singapore Mercantile Exchange, the first Pan-Asian multi-product commodity derivatives exchange, will be launched in Singapore middle of this year.

Owned by India's Financial Technologies (FT) Group, SMX will offer a comprehensive basket of commodity derivatives for trading, including futures and options contracts on precious metals, base metals, agriculture commodities and commodity indices.

Mr Kola Luu, Executive Director, Financial Markets Strategy Department, Monetary Authority of Singapore, said, "We believe this development will further strengthen Singapore's lead as the region's commodity derivatives trading hub."

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