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India: Commexes’ turnover drops 41% till March 15 of FY15

Posted on 30 March 2015 by VRS  |  Email |Print

The turnover of commodity exchanges fell by 41 per cent to Rs 58.68 lakh crore till March 15 of 2014-15 on sharp fall in trading volumes in bullion and other commodities, according to Forward Markets Commission (FMC).
Their business stood at Rs 98.57 lakh crore in the same period of the corresponding year. Much of the fall in turnover was seen in bullion, followed by energy, farm and metals items in the said period, as per commodity markets regulator FMC………………………………………..Full Article: Source

Shanghai to Match London Metals as China Seeks Commodities Sway

Posted on 27 March 2015 by VRS  |  Email |Print

The Shanghai Futures Exchange will start trading nickel and tin on Friday, offering the same main contracts as the world’s biggest metals bourse in London, as China seeks to extend its influence over commodities prices.
They join Shanghai’s existing futures for aluminum, copper, lead and zinc. Nickel and tin are the worst performers on the London Metal Exchange this year, partly on concern that demand in China may weaken. Mainland traders can use both LME and SHFE contracts to hedge or profit from the difference in prices………………………………………..Full Article: Source

India: Special commodity markets for perishable commodities proposed

Posted on 24 March 2015 by VRS  |  Email |Print

In order to develop the prospect of onion and other perishable commodities like vegetables in the domestic and international market, the ministry is proposing to set up special commodity markets with processing units for perishable vegetables.
These commodity markets will be developed through the state APMCs by providing special incentives and subsidies by ministry of agriculture. This discussion has taken placed between State of Maharashtra, Government of India and National Horticultural Research and Development Foundation (NHRDF) in the context of development of onion and garlic market………………………………………..Full Article: Source

Merger Process With Commodity Regulator to be Smooth: Sebi

Posted on 23 March 2015 by VRS  |  Email |Print

Securities and Exchange Board of India (Sebi) on Sunday said the action plan for proposed merger of Forward Markets Commission (FMC) with itself is under works and expressed hope that the process would be “smooth”.
The Finance Ministry along with capital market watchdog Sebi and commodity market regulator FMC are in dialogue for the merger process, Sebi Chairman U K Sinha said here. “We discussed the proposed merger of FMC with Sebi (Securities and Exchange Board of India) and the plan of action in this regard,” he said after its board meeting, which was addressed by Finance Minister Arun Jaitley………………………………………..Full Article: Source

Singapore Fostering Commodity Trade as Clearing Units Expand

Posted on 13 March 2015 by VRS  |  Email |Print

Singapore’s financial regulator will work with commodity exchanges, investors and producers to support the development of the city-state as a trading center, including the expansion of clearing houses in Asia.
The entry of new clearing houses can boost liquidity and encourage the development of products, the Monetary Authority of Singapore said in an e-mailed response to queries. Clearing houses help improve risk management in derivatives markets during Asian hours, the MAS said………………………………………..Full Article: Source

Nasdaq Expands Global Commodities Initiative With Energy Derivatives

Posted on 13 March 2015 by VRS  |  Email |Print

Nasdaq announced the establishment of a new energy futures market with the support of leading commodities participants. Nasdaq Futures (NFX) will offer competitive pricing, an innovative clearing solution and high-performance technology for futures and options based on key energy benchmarks including oil, natural gas and US power, which will launch mid-2015 pending regulatory approval.
Nasdaq has secured support from prominent trading firms, inter-dealer brokers, and futures commission merchants (FCMs) to facilitate broad product distribution and early liquidity. Founding market participants include ABN AMRO Group, Advantage Futures, Goldman Sachs, JP Morgan, Morgan Stanley1 and Virtu Financial………………………………………..Full Article: Source

Singapore Exchange in early talks for regional rubber bourse

Posted on 12 March 2015 by VRS  |  Email |Print

The Singapore Exchange (SGX) is in preliminary talks to be part of a South-east Asian rubber exchange that would bring together the top three producing nations, industry sources said on Tuesday.
SGX held a meeting late last month with the International Tripartite Rubber Council (ITRC), an industry body comprising Thailand, Indonesia and Malaysia, which together produce 70 per cent of the world’s rubber………………………………………..Full Article: Source

Nasdaq looks to halve energy trading cost

Posted on 12 March 2015 by VRS  |  Email |Print

Nasdaq plans to halve the cost of trading energy with the launch of a new, low-cost futures exchange that executives believe will challenge the current dominance wielded by the CME Group and Intercontinental Exchange.
The US exchange group, best known as a stock market operator, took aim at what it called a “monopoly” as it formally announced the launch of Nasdaq Futures, a commodity market that will list contracts in oil, natural gas and US power………………………………………..Full Article: Source

ICE to host British carbon permit auctions until end-2017

Posted on 05 March 2015 by VRS  |  Email |Print

ICE Futures Europe will continue to host Britain’s carbon auctions until November 2017, the bourse said on Wednesday. ICE was appointed in 2012 by the British government to carry out its auctions of EU Allowances (EUAs) until the end of 2015 but this contract has now been extended, the exchange said in a press release.
ICE Futures Europe is a part of the Intercontinental Exchange. EUAs are the currency of the EU’s Emissions Trading System, which regulates around half of Europe’s output of heat-trapping gases by forcing over 12,000 power plants, factories and airlines to surrender one allowance for every tonne they emit………………………………………..Full Article: Source

London Metal Exchange aims to double cuts to warehouse logjams

Posted on 03 March 2015 by VRS  |  Email |Print

The London Metal Exchange (LME) announced new rules and proposals on Monday aimed at slashing delivery backlogs at its global network of warehouses twice as quickly as under current reforms.
The move is part of a wide-ranging reform drive sparked by consumer complaints about long delays to obtain aluminium from storage and lawsuits accusing banks and commodity companies of conspiring to restrict supply through the warehouse network………………………………………..Full Article: Source

Sebi-FMC merger: Soon, commexes may start equity trading

Posted on 02 March 2015 by VRS  |  Email |Print

Merger of the Forward Markets Commission (FMC) with the Securities and Exchange Board of India (Sebi) allows a commodity exchange to expand in segments permitted under a stock exchange and vice versa. From the proposed Bill in this regard, “all recognised associations under the Forward Contracts Regulation Act shall be deemed to be recognised stock exchanges under the Securities Contracts Regulation Act”.
Exchanges, stock and commodities, are excited. Says a senior figure in the sector, on condition of anonymity: “After the merger, stock and commodities exchanges, subject to Sebi permission, will have fungibility in penetrating each other’s market segment.” This means a commodity exchange can start currency derivatives and equity trading. A stock exchange can launch commodity trading………………………………………..Full Article: Source

Tanzania: Establishment of Commodity Exchange in Pipeline

Posted on 25 February 2015 by VRS  |  Email |Print

Availability of reliable agricultural produce market continues to be a headache for farmers which in return hinder agro productivity in the country. The market challenges are believed to make the country’s agricultural produce curve to be in a ‘S’ shape as in business circle — increasing this year and plummet in the next due to lack of reliable markets.
On the other hand farmers are not getting back value of their investments because during harvests price plummet and rises when production goes down after surplus. Since the country heavily depends on agricultural sector which has significant contribution to the gross domestic product (gdp) and employment, the up and down circles on agro-sector back pedal the effort to bring or uplift social welfare in Tanzania………………………………………..Full Article: Source

Warsaw exchange to launch commodities market

Posted on 25 February 2015 by VRS  |  Email |Print

The Warsaw Stock Exchange has yet to decide what market data feeds it will offer to support trading on a new commodities market that it plans to launch within the next 12 months, officials say, following approval from the Polish Ministry of Finance yesterday, Monday Feb. 23.
The approval will see WSE begin trading commodity derivatives on the Financial Instruments Market, which will be run by the Polish Power Exchange (PolPX)………………………………………..Full Article: Source

Euronext to license wheat futures to South Africa’s JSE

Posted on 17 February 2015 by VRS  |  Email |Print

Euronext has agreed to license its Paris-based wheat futures contract to the Johannesburg Stock Exchange (JSE), the European exchange said on Monday, as it tries to expand its flagship commodity product overseas. Euronext has made derivatives including agricultural futures a priority after its spin-off last year from Intercontinental Exchange, and is facing a challenge from Chicago-based CME Group, which is planning to enter the European wheat market.
JSE will list Euronext’s milling wheat contract as a first step in a reciprocal licensing agreement that allows for each exchange to use the other’s commodity products and settlement prices, Euronext said in a statement………………………………………..Full Article: Source

BSE to start its commodity exchange by next fiscal: BSE CMD

Posted on 09 February 2015 by VRS  |  Email |Print

The Bombay Stock Exchange plans to start its own commodity exchange by next fiscal year, BSE’s Chief Executive Officer and Managing Director Ashishkumar Chauhan has said.
He said that the Securities and Exchange Board of India (SEBI) has already permitted BSE’s foray into commodity trading through its own exchange. Since commodity trading in India is regulated by the Forward Markets Commission (FMC), BSE is now awaiting the Commission’s nod………………………………………..Full Article: Source

India: Commodity Exchange Turnover Declines by 43%

Posted on 29 January 2015 by VRS  |  Email |Print

The turnover of commodity exchanges declined 43 per cent to Rs 48.54 lakh crore till January 15 of the current fiscal year, due to poor participation, according to the Forward Markets Commission (FMC). These exchanges had made a business of Rs 85.28 lakh crore between April and January 15 of the last financial year.
According to the latest data released by commodity markets regulator FMC, there was fall in business in almost all commodities. The maximum decline in turnover was reported in bullion, metals, energy and agricultural commodities………………………………………..Full Article: Source

BSEC to formulate ‘commodity exchange’ rules

Posted on 27 January 2015 by VRS  |  Email |Print

The Bangladesh Securities and Exchange Commission (BSEC) has moved forward to formulate rules to open ‘commodity exchange’ in the country for the first time. A committee of BSEC has submitted two reports to the commission in this regard which may help accelerate the process to formulate commodity and exchange rules very soon, officials said.
Experts and private investors urged for formulating rules as soon as possible to launch commodity exchanges in Bangladesh to boost trade of agricultural produces in the country. A commodities exchange is an exchange where various commodities and derivatives products are traded. Most commodity exchanges across the world trade in agricultural products and other raw materials like wheat, jute, sugar, maize, cotton, oil, metals, etc and contracts based on them………………………………………..Full Article: Source

Angola to have commodities exchange

Posted on 23 January 2015 by VRS  |  Email |Print

The Capital Market Commission (CMC) of Angola will this year prepare a study with the aim of opening a Commodity Exchange to trade agricultural and livestock commodities contracts, CMC director Vera Daves said in Luanda.
Initially, Daves said, the Commodity Exchange will trade spot products, that is, “the buys pays for and immediately receives the product.” The exchange, which aims to bring together large, medium and small farmers from around the country, “wants domestic production and to bring together into one space, the entire national production chain,” added the CMC director, on the sidelines of the 3rd Annual CMC Staff Meeting held in Luanda………………………………………..Full Article: Source

Euronext looks at sugar, biofuels, metals in commodities push

Posted on 21 January 2015 by VRS  |  Email |Print

Euronext, the equity, bond and derivatives exchange, is looking at sugar, biofuels and metals as potential markets to develop as it tries to expand its presence in commodity derivatives, it said on Tuesday.
After losing most of its commodities team when it was spun off from Intercontinental Exchange last year, it has since recruited a specialist in vegetable oils and biodiesel and another in metals, Nicholas Kennedy, its head of business development for commodities, said………………………………………..Full Article: Source

BSE plans international exchange in Gujarat, commodity bourse

Posted on 21 January 2015 by VRS  |  Email |Print

As the 140-year-old stock exchange BSE charts a new growth path, it plans to foray into commodity trading business and also set up an international exchange in Gujarat to cater to global companies and investors.
“The stock exchanges, including BSE, need to change their business model and promote investment-based trading and help in capital formation to generate funds for investments across various sectors,” BSE CEO Ashish Chauhan said………………………………………..Full Article: Source

Ghana commodity exchange will come alive this year

Posted on 21 January 2015 by VRS  |  Email |Print

Work on the proposed Ghana Commodity Exchange, designed to provide ready market for grains and cereal producers, has resumed after two years idling on the shelf, the Deputy Minister of Trade and Industry, Mr Kweku Ricketts-Hagan, has assured.
The deputy minister told the GRAPHIC BUSINESS in Tema on January 15 that the team working on it has furnished him with information and documents on what had been achieved so far which convinced him that the project would soon take off. “I am studying it and I can assure you that the ministry will kick into action and get it going soon”, he said………………………………………..Full Article: Source

BSE gets Sebi nod to launch commodity exchange

Posted on 08 January 2015 by VRS  |  Email |Print

Bombay Stock Exchange, one of the leading exchanges, has received capital market regulator Sebi-approval to launch its commodity exchange. The stock exchange has to now apply with the commodity market regulator, Forward Markets Commission, for its permission.
Last October, the board of directors of BSE approved a proposal for foray into the commodity exchange business and papers were filed with Sebi. Once launched, BSE would be the seventh company to enter the commodity space dominated by MCX and NCDEX. At present, there are four commodity exchanges including National Multi Commodity Exchange and Kotak Group-owned ACE Commodity and Derivatives Exchange besides six regional exchanges………………………………………..Full Article: Source

HKEx should focus on commodities, boosting trading ties with China, say analysts

Posted on 05 January 2015 by VRS  |  Email |Print

Hong Kong Exchanges and Clearing should strengthen trading connections with the mainland this year and further develop commodities trading, say analysts. They also urged HKEx to adopt measures from other exchanges to help boost turnover and attract more new listings.
Following the launch of the stock connect scheme in November that enabled cross-border stock trading between the HKEx and Shanghai Stock Exchange, the next step would be to explore other trading connections that suit the taste of mainland investors………………………………………..Full Article: Source

India: Commodity trading turnover halves to Rs 65-trillion in 2014

Posted on 19 December 2014 by VRS  |  Email |Print

Grappling with its biggest ever scam running into Rs 5,600 crore, it appears to be a journey down the hill for the commodity markets with total exchange traded turnover halving to almost Rs 65 lakh crore in 2014.
Although not a formal member of the commodity futures market, the payment default at National Spot Exchange Ltd (NSEL) shook the market to its core, resulting into a series of regulatory steps to revive investor confidence and credibility during 2014 and it is now hoping for a fresh start in the new year………………………………………..Full Article: Source

ICE to Start Yuan, Commodities Futures in Singapore

Posted on 04 December 2014 by VRS  |  Email |Print

Intercontinental Exchange Inc. (ICE) will start its first five futures contracts to be listed and cleared in Singapore next year, including products on the Chinese currency, Brent crude and gold.
A mini contract on the European energy benchmark as well as products on the yuan, Chinese cotton and sugar will be cash-settled, while a one-kilogram gold contract will be physically settled, Atlanta-based ICE said. Trade will start on March 17, subject to regulatory approval from the Monetary Authority of Singapore, it said……………………………………….Full Article: Source

India: Commodity Market Regulator Plans to Introduce Call Auction

Posted on 01 December 2014 by VRS  |  Email |Print

The Forward Markets Commission (FMC) is planning to introduce the concept of call auction for half an hour in order to curtail market manipulation in commodity futures. The call auction is prevalent in stock markets.
“We are soon planning to introduce call auction for an half hour with 100 per cent delivery. This will help in getting the final settlement price for commodities futures,” FMC Chairman Ramesh Abhishek told PTI. There were some complaints that prices are being manipulated while determining the final settlement price in a commodity futures contract, he said………………………………………..Full Article: Source

Euronext to launch dairy derivatives in 2015

Posted on 28 November 2014 by VRS  |  Email |Print

European exchanges operator Euronext will launch a range of dairy futures and options next year, betting the abolition of European Union milk production quotas will spur demand for hedging and pricing tools in the industry.
Euronext will offer derivatives for butter, skimmed milk powder and whey powder, with the launch scheduled for the spring, it said on Thursday. The EU, the world’s top dairy producer, is scrapping milk production quotas from April 2015 in response to growing global demand for dairy products, a move expected to lead to an increase in EU output and greater volatility in prices……………………………………Full Article: Source

Intercontinental Exchange to launch in Singapore from March

Posted on 05 November 2014 by VRS  |  Email |Print

Intercontinental Exchange, the US energy markets operator, has set a launch date of March 17 next year for its new Singapore-based exchange and clearing house, marking a new era for exchange competition in Asia.
The group also said on Tuesday that it had applied to the Monetary Authority of Singapore to launch a foreign trade repository in the Asian city-state………………………………………..Full Article: Source

BSE to foray into commodities trading with new platform

Posted on 29 October 2014 by VRS  |  Email |Print

Leading bourse BSE is planning to launch a separate platform for trading of various commodities to foray into commodity exchange business — currently dominated by two major players, MCX and NCDEX. A proposal in this regard has been approved by the board of BSE, which is the world’s largest stock exchange in terms of number of listed companies and holds top positions on various other counts.
Sources said the BSE board has cleared the proposal and further modalities would be put in place soon. Incidentally, BSE had also put in an initial bid, estimated at about Rs 500 crore, recently for purchase of 15 per cent stake in the country’s largest commodity exchange Multi Commodity Exchange (MCX). ……………………………………….Full Article: Source

BSE plans foray into commodity trading; board gives nod for new platform

Posted on 28 October 2014 by VRS  |  Email |Print

Asia’s oldest stock exchange BSE will soon make a foray into commodity trading. A proposal to start a new platform for commodities trading was approved by the BSE board on October 20, said two sources familiar with the development.
BSE’s rival in equity trading, the National Stock Exchange (NSE), already has a presence in the commodity segment through a stake in National Commodity & Derivatives Exchange. Bourses such as BSE entering commodity trading are eyeing the passage of Forwards Contract Regulations Act (FCRA) that could boost trading volumes as it allows launch of further derivative products in the segment. ……………………………………….Full Article: Source

How commodity bourses can survive

Posted on 24 October 2014 by VRS  |  Email |Print

In commodity, like any other trading one does not mind paying a transaction fee as long as profits are made. However, once an entity starts making losses, the concern on the high transaction fee becomes multi-fold. On the other hand, when commodity exchanges start making losses, they may be forced to increase transaction fee camouflaged under some other name to boost the revenue.
This often causes narrowing of participation and alienation of new participation on the exchange platform. Comexes, which till a few years ago were embarking on global ambitions, are now struggling for survival. Of the first three national exchanges that were granted license, one continues to make profit due to low cost of operation, the other is showing signs of operating losses while the third continues to struggle………………………………………..Full Article: Source

To inject more liquidity, commodity market regulator raises position cap

Posted on 24 October 2014 by VRS  |  Email |Print

Commodity markets regulator Forward Markets Commission (FMC) has decided to allow hedgers, brokers and investors to take higher positions in futures contracts as part of its efforts to ensure more liquidity in the market.
In order to usher in more transparency in the market, the commission has asked the exchanges to display details of top traders on their websites. The revised norms, issued on Wednesday, have come into effect immediately………………………………………..Full Article: Source

HKEx to launch its first Asia Commodities contracts from December

Posted on 23 October 2014 by VRS  |  Email |Print

Hong Kong Exchanges and Clearing Limited (HKEx) will introduce its first Asia Commodities contracts – London Aluminium Mini Futures, London Zinc Mini Futures and London Copper Mini Futures – for trading on Monday, 1 December 2014, subject to market readiness.
The three mini metals contracts will trade in Renminbi (RMB). HKEx decided to postpone the introduction of its US-dollar traded API 8 Thermal Coal Futures so it could focus on the launch of the mini metals contracts. HKEx remains committed to the coal contract and will announce its rollout date later………………………………………..Full Article: Source

Nagoya Commodity Exchange(ngcx)to Launch Carbon Credits Contract

Posted on 23 October 2014 by VRS  |  Email |Print

In a landmark initiative that will enable direct trading of Carbon Credits Nagoya Commodity Exchange today launched futures trading in Carbon Credits. This pioneering initiative at Nagoya Commodity Exchange makes it among the select few in league.
Commenting on the launch Mr. Genichi Nakatoni Chairman and CEO of NGCX said “Launching of carbon credit futures on the Nagoya Commodity Exchange’s trading platform would provide transparency to markets and help producers earn remunerative returns out of environmentally clean projects.” Trading in new generation commodities like carbon credits has placed Nagoya Commodity Exchange on the global map of innovative exchange for providing global products to its clients………………………………………..Full Article: Source

LME plans to launch HK-based commodities contracts

Posted on 21 October 2014 by VRS  |  Email |Print

The London Metal Exchange plans to launch Hong Kong-based commodities contracts as it seeks to attract direct investment from mainland China, the world’s largest metals consumer.
The 137-year-old exchange, which was bought by Hong Kong Exchanges & Clearing in 2012, wants to extend a pilot programme starting this month linking the Hong Kong and Shanghai stock markets to commodities, Charles Li, HKEx chief executive, said………………………………………..Full Article: Source

Things can only get better in HKEx and LME’s marriage?

Posted on 20 October 2014 by VRS  |  Email |Print

For the tie-up to operate more smoothly after a bumpy start, both parties need to boost their trading volumes and launch more products. This is not a takeover; it is a marriage.” That is how Charles Li Xiaojia, the chief executive of Hong Kong Exchanges and Clearing, described the £1.38 billion (HK$17.2 billion) purchase of the London Metal Exchange back in 2012.
He was speaking at the metal exchange’s annual black-tie dinner at Grosvenor House in London, conceding that it was the first time he himself, once an oil worker, had ever worn a black tie………………………………………..Full Article: Source

LME to run palladium and platinum price benchmarks

Posted on 17 October 2014 by VRS  |  Email |Print

The London Metal Exchange will administer the digital price-setting mechanism for palladium and platinum, months after a failed bid to run the replacement for the daily silver benchmark.
The LME will take over management of the price “fixes” for the two metals from the start of December, putting the process on to a new electronic platform called LMEbullion. The “fixes” used by miners, central banks, jewellers and the financial industry to trade precious metals and price derivative contracts have lost lustre in recent years due to concerns about transparency and vulnerability to manipulation………………………………………..Full Article: Source

ICE Europe Takes Over Liffe Commodities After 18 Years

Posted on 30 September 2014 by VRS  |  Email |Print

Intercontinental Exchange Inc. (ICE) eliminated the Liffe name and incorporated cocoa, robusta coffee, white sugar and feed wheat futures and options into ICE Futures Europe, owner of the Brent crude contract.
ICE, based in Atlanta, has the dominant position in the softs markets, also owning ICE Futures U.S. in New York where arabica coffee, cocoa and raw sugar trade. ICE Futures Europe now has the biggest share of the cocoa market with 259,410 futures outstanding today compared with 209,687 contracts on ICE Futures U.S., according to data compiled by Bloomberg. ICE’s Brent oil futures have 1.4 million contracts outstanding………………………………………..Full Article: Source

Indian commodity bourses see turnover sink 59% in Apr-Aug’14

Posted on 23 September 2014 by VRS  |  Email |Print

The turnover of the commodity bourses fell by about 59 per cent to 24.46 lakh crore during the April-August period of this fiscal on sharp decline in bullion and energy futures, according to the latest FMC data.
The exchanges had generated a business of Rs 58.98 lakh crore in the same period last year. There has been decline in the trading volumes in almost all commodities in the bourses. Maximum fall in turnover has been witnessed in bullion, energy, base metals and farm items………………………………………..Full Article: Source

ICE Seeks Participants in Commodities Warehousing Survey

Posted on 22 September 2014 by VRS  |  Email |Print

Intercontinental Exchange Inc. on Friday said it was asked by a U.S. regulator to solicit responses from market participants to a survey on the effect of warehousing on commodity prices.
The survey is being conducted by the International Organization of Securities Commissions, a global body of securities regulators. The organization is researching how storage affects the price of commodity derivatives, the contracts that underpin the prices for raw materials and agricultural products ranging from oil, corn and copper………………………………………..Full Article: Source

International gold trading launched in Shanghai free-trade zone

Posted on 19 September 2014 by VRS  |  Email |Print

The Shanghai Gold Exchange officially launched its international trading platform in the city’s free-trade zone (FTZ) last night, the first such board in the zone, with hopes of setting benchmark prices for the precious metal in Asia. It could pave the way for the launch of crude oil futures and other key commodities including iron ore in the testing ground for mainland economic reform.
Premier Li Keqiang made an inspection tour of the 28 square kilometre zone yesterday following a no-show on September 29 last year, when it was inaugurated. “The free-trade zone in Shanghai will have a brighter future and Shanghai will have a brighter future,” the premier told officials and others during the tour, Xinhua reported. “I wish the FTZ to be prosperous and developed.”…………………………………….Full Article: Source

Tokyo Commodity hopes cut costs with Osaka Exchange

Posted on 15 September 2014 by VRS  |  Email |Print

The Tokyo Commodity Exchange is considering sharing a new system with the Osaka Exchange, a unit of Japan Exchange Group Inc., it has been learned. The Tokyo exchange hopes the move will help reduce costs as it faces the need to save system expenses and overcome its business difficulties caused by a slump in trading volume, sources said. It is expected to switch to the new system in autumn 2016.
The Tokyo Commodity Exchange plans to make a formal decision at an extraordinary board meeting on Sept. 24 and is currently working out the details………………………………………..Full Article: Source

London Metal Exchange to Launch Premium Contracts for Metals in 2015

Posted on 12 September 2014 by VRS  |  Email |Print

The London Metal Exchange on Thursday said it would launch premium contracts in the second quarter of 2015, which could allow market participants to protect themselves from spikes in costs that arise on top of the cost of the metal.
The move is part of the LME’s effort to reduce those costs. It has also proposed changing the rules related to storage of metals in LME warehouses, as severe backlogs are one of the reasons why the additional costs have risen so high. The LME said, to make the system work, it is planning to let warehouses opt in to the system for premium contracts………………………………………..Full Article: Source

London Metal Exchange to push for reform after US judge dismisses suits

Posted on 01 September 2014 by VRS  |  Email |Print

The end of class action lawsuits in the United States against the London Metal Exchange will open the way for a long-promised reform of the aluminium warehousing issue and allow the bourse to focus on its expansion in Asia, according to brokers.
An LME spokeswoman told the South China Morning Post the London-based commodities exchange was pleased to have been granted immunity from the aluminium class action lawsuits and would continue to carry out its warehouse reform plans………………………………………..Full Article: Source

Commodities trading the latest move by Shanghai to talk up free trade zone

Posted on 29 August 2014 by VRS  |  Email |Print

Commodities exchanges the latest idea for city’s free trade zone, and part of its plan to establish itself as a hub for international commerce. In the latest attempt to raise the profile of its Hong Kong-style free port, Shanghai has unveiled ambitious plans to create a clutch of international commodity trading platforms in its free-trade zone (FTZ).
According to an action plan to develop the city into a centre for international commerce, major commodities including iron ore, cotton and copper will be traded on the internationalised markets inside the 28.8 sq km FTZ by 2015. The announcement follows long-heralded plans to establish international boards for crude oil futures and gold trading in the zone………………………………………..Full Article: Source

Egypt in talks with Chicago Merc to build biggest commodities exchange in MENA

Posted on 29 August 2014 by VRS  |  Email |Print

Egypt plans to get benefit from the Chicago Mercantile Exchange (CME)’s wide expertise, seeking to establish its first and biggest commodities exchange in the Middle East. Egypt’s Minister of Supply Khaled Hanafy announced Wednesday that his country, represented in officials from the Armed Forces, Cabinet and Arab Contractors Company, will start a number of meetings with CME chairman and board members.
The meetings aimed to review means of technical cooperation and support between the two countries to build the first commodities exchange in Egypt and the Middle East, dedicated for the grains and wheat………………………………………..Full Article: Source

London Metal Exchange dismissed from U.S. price-fixing lawsuits

Posted on 27 August 2014 by VRS  |  Email |Print

A judge has dismissed London Metal Exchange Ltd as a defendant from U.S. antitrust litigation accusing banks and commodity companies of conspiring to drive up aluminum prices by restricting supply, hurting manufacturers and purchasers.
In a decision made public on Tuesday, U.S. District Judge Katherine Forrest in Manhattan concluded that the LME was an “organ” of the UK government, and therefore immune from the lawsuit under the Foreign Sovereign Immunities Act………………………………………..Full Article: Source

Egypt seeks to have first, biggest commodities exchange in MENA

Posted on 26 August 2014 by VRS  |  Email |Print

Egypt plans to launch the first and biggest commodities exchange in the Middle East in the coming period, said Minister of Supply Khaled Hanafy. The Egyptian minister further elaborated in a telephone interview with Al-Hayat TV channel on Saturday, that Cairo city would be the hub of contracting, trading, receiving and distributing the grains.
Such new accumulative markets will prevent monopolies and provide more transparency in the cost of goods………………………………………..Full Article: Source

Korea: No rush of investors at gold exchange

Posted on 25 August 2014 by VRS  |  Email |Print

Although business is transacted, there are no records and the government can’t levy taxes. This is the character of the underground economy in Korea, where gold is the commodity of choice. Transactions are made through a direct exchange of bullion or by cash, and the total value not subject to taxation is estimated at 300 billion won ($294.8 million) a year.
In an attempt to tap into that source of revenue, the government in March opened the nation’s first gold exchange market. After five months, are there signs of progress toward making the underground market more transparent?……………………………………….Full Article: Source

Commodity trading in India on the rise as investors return

Posted on 20 August 2014 by VRS  |  Email |Print

A year after a US$920 million payment default at a spot commodities bourse cut trading from gold to soya beans futures, jolting India’s biggest brokerages, investors are returning as newer regulations buoy confidence.
The volume of commodities traded on the Multi Commodity Exchange Ltd, India’s biggest commodity bourse, has rebounded from a five-year low after the regulator tightened warehousing and shareholding norms in response to the payment crisis that unravelled at the National Spot Exchange Ltd (NSEL). Volumes on the National Commodity & Derivatives Exchange of India Ltd, the second largest bourse, have recovered from a 10-year low………………………………………..Full Article: Source

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