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Aluminum market eyes SHFE, LME arbitrage as support for premiums

Posted on 27 May 2015 by VRS  |  Email |Print

Some traders in Asia are closely monitoring the spread between Shanghai Futures Exchange and London Metal Exchange aluminum contract prices, as a wider spread may see more of the metal head to China. Front-month SHFE June aluminum traded at Yuan 13,150-Yuan 13,160 ($2,152-$2,153)/mt Tuesday, while the most recent LME settlement on May 22 was $1,726/mt.
Platts assessed spot Chinese import premium for Western grade aluminum at $150-$200/mt Monday. On the basis of LME at $1,726/mt, the $175/mt import premium, port handling charges of Yuan 100/mt and China’s value added tax of 17%, the Chinese import price is equivalent to Yuan 13,689/mt — higher than the traded level for SHFE June aluminum contract, Platts calculation shows…………………………………..Full Article: Source

LME’s Owner Seeks Commodities Trade Link to Mainland China

Posted on 21 May 2015 by VRS  |  Email |Print

Hong Kong Exchanges & Clearing Ltd. is in the early stage of creating a commodities trading connection with mainland China. HKEx, owner of the London Metal Exchange, the world’s biggest metals bourse, aims to make international benchmark commodity futures available to traders in China while offering mainland contracts to overseas traders, Chief Executive Officer Charles Li said Wednesday.
The country opened its stock market to foreign investors through the Shanghai-Hong Kong exchange link in November and authorities are planning a similar equity link between Hong Kong and Shenzhen later this year. “We are trying to see whether we can connect the international product to domestic liquidity and the domestic product to international liquidity,” Li said in an interview with Bloomberg………………………………………..Full Article: Source

Ethiopian Commodity Exchange gets new CEO

Posted on 08 May 2015 by VRS  |  Email |Print

The Board of Directors Office of the Ethiopian Commodity Exchange today announced the appointment of Ato Ermias Eshetu as Chief Executive Officer of the ECX. Ato Ermias has held a range of leadership positions locally and abroad. Since 2007, he has served as an Executive Management Member at Zemen Bank, most recently as Vice President for Marketing & Corporate Services.
He received his Masters in International Business from Manchester School of Management and a Bachelor degree in Computation at UMIST, in the United Kingdom. Over the past 20 years, Ermias has worked at multi-national organization such as IBM, Alcatel, Orange and MicroStrategy………………………………………..Full Article: Source

NY issues licence for Bitcoin exchange

Posted on 08 May 2015 by VRS  |  Email |Print

New York’s powerful banking regulator has announced its first licence for a Bitcoin exchange, extending its influence over the growing but little-regulated virtual currency industry. New York City-based itBit Trust Co. was the first company dealing in so-called crypto-currency to receive a trust licence from the state Department of Financial Services (DFS) on Thursday.
ItBit immediately announced it was accepting US retail and institutional Bitcoin trading customers, and said it had recruited to its board the respected former chair of the Federal Deposit Insurance Corporation, Sheila Bair………………………………………..Full Article: Source

Carbon Trade Exchange Launches Platform for Allowances from RGGI

Posted on 07 May 2015 by VRS  |  Email |Print

The Carbon Trade Exchange (CTX) announced the start of a new centralized exchange platform that will allow users to buy and sell allowances from the Regional Greenhouse Gas Initiative, the first mandatory cap-and-trade program in the US to limit carbon dioxide from the power sector.
CTX RGGI Exchange offers intra-day spot trading of RGGI units and is electronically connected with Wells Fargo. The announcement shows the continued progress CTX has made in less than a year………………………………………..Full Article: Source

Zinc and copper rally on the LME

Posted on 06 May 2015 by VRS  |  Email |Print

Zinc hit its highest price in eight months on Tuesday and copper its loftiest since mid-December thanks to a combination of concern about supply shortfalls and optimism over the global economy. All the metals on the London Metal Exchange (LME) attracted buying, which also pushed nickel to a six-week high, as the market reopened following a British public holiday on Monday.
‘Commodities are bouncing back up, led by oil and iron ore. Base metals seem to be following the herd,’ said Richard Fu, director of Asian commodities trading for Societe Generale Newedge in London………………………………………..Full Article: Source

LME strives for ‘evolution’ not ‘revolution’: LME CEO

Posted on 22 April 2015 by VRS  |  Email |Print

The London Metal Exchange has seen a number of significant changes since Hong Kong Exchanges and Clearing completed its acquisition of the exchange in 2012, Garry Jones, CEO, LME said in a briefing late Monday. “Over the last couple of years since the Hong Kong Exchange bought the LME we continue to see significant changes and I think the important thing is that it’s evolution not revolution…we’re not changing the entire exchange, we’re moving things forward considerably,” Jones said.
He said the starting point of this ‘evolution’ was looking at the ‘underpinnings’ of the exchange in order to strengthen its core functions in IT, risk management, regulation, compliance, internal audit and market surveillance…………………………………..Full Article: Source

World Gold Council considers creation of new London exchange

Posted on 14 April 2015 by VRS  |  Email |Print

The way gold is traded in London may be set for a shake-up as the World Gold Council (WGC), the industry’s leading trade body, along with half a dozen banks, have agreed to explore the idea of launching a new bullion exchange in London. The idea of a new exchange comes as existing markets continue to fall while facing greater regulation, and increased competition.
The newspaper, citing people close to the discussions, claimed that the WGC, a trade group which consists of 19 gold miners, alongside at least five banks, has begun initial discussions which could result in a move away from the London Bullion Market Association’s bilateral over-the-counter gold market that has been criticized for its lack of transparency, to a centrally regulated market………………………………………..Full Article: Source

Shanghai Gold Exchange says to introduce new pricing products

Posted on 13 April 2015 by VRS  |  Email |Print

China’s state-run Shanghai Gold Exchange said on Sunday it was working on launching new price benchmark fixing products as a new service to market participants. “We are planning to provide new services to market participants so a lot of new products including price benchmark fixing products are on the way,” Song Yuqin, Vice President of the exchange, told the Dubai Precious Metals Conference through a translator.
Sources had told Reuters in February that the exchange would launch a yuan-denominated gold fix this year as the world’s top producer of gold seeks to gain more say over the pricing of the precious metal………………………………………..Full Article: Source

Shanghai Gold Exchange says to introduce new pricing products

Posted on 13 April 2015 by VRS  |  Email |Print

China’s state-run Shanghai Gold Exchange said on Sunday it was working on launching new price benchmark fixing products as a new service to market participants. “We are planning to provide new services to market participants so a lot of new products including price benchmark fixing products are on the way,” Song Yuqin, Vice President of the exchange, told the Dubai Precious Metals Conference through a translator.
Sources had told Reuters in February that the exchange would launch a yuan-denominated gold fix this year as the world’s top producer of gold seeks to gain more say over the pricing of the precious metal………………………………………..Full Article: Source

Dubai Gold and Commodities Exchange records 32% MoM volume growth in March; Q1 “strong”

Posted on 13 April 2015 by VRS  |  Email |Print

The Dubai Gold and Commodities Exchange (DGCX) released March metrics today along with Q1 performance updates, monthly volumes showed healthy double digit growth, which we have seen become the norm in March across many different trading venues. First quarter volumes on the Dubai Gold and Commodities Exchange (DGCX) grew 11% from the Q4 2014, trading more than 3.3 million contracts valued at over US $97 billion.
The key drivers for the year-to-date growth were the Indian currency and equity products and the hydrocarbon segment. DGCX’s Indian product suite which includes the Indian Rupee and Sensex Futures registered a year-to-date growth of 11% and 20% respectively. Growth in the hydrocarbon sector was led by WTI Futures which rose by 54%, much due to the latest oil plunge which saw massive volumes as a result. (Press Release)

Commexes’ turnover dips by 39% in FY15 due to CTT

Posted on 10 April 2015 by VRS  |  Email |Print

The turnover of Indian commodity exchanges dropped 39 per cent to Rs 61.68 lakh crore last fiscal due to higher transaction costs and decline in prices of bullion and metals. The business at these bourses was at Rs 101.44 lakh crore in the previous fiscal, 2013-14, according to the data released by the Forward Markets Commission (FMC).
The turnover of bullion fell by over 49 per cent to Rs 21.88 lakh crore in 2014-15, from Rs 43 lakh crore a year-ago. Similarly, the turnover of energy commodities declined by 34 per cent to Rs 16.46 lakh crore, from Rs 24.72 lakh crore, while that of metals dipped by 28 per cent to Rs 12.74 lakh crore from Rs 17.61 lakh crore in the review period………………………………………..Full Article: Source

World Gold Council quiet on reports of London-based exchange

Posted on 08 April 2015 by VRS  |  Email |Print

The World Gold Council would not comment Tuesday on reports that it and a group of banks have been in talks about opening an exchange in London — where about 70% of the world’s bullion trade takes place over the counter — to try to increase market transparency.
“We are constantly exploring potential market development initiatives,” a WGC spokeswoman said. “So, it is in the normal course of business that we are engaged in discussions with a number of individuals and organizations regarding the operation of the global gold market.”……………………………………….Full Article: Source

Government forms panel for Sebi-FMC merger

Posted on 08 April 2015 by VRS  |  Email |Print

The government has set up a committee to oversee the merger between commodities market regulator Forwards Market Commission (FMC) and the Securities and Exchange Board of India (Sebi).
The committee is headed by Ajay Tyagi, additional secretary, finance ministry and has representatives from both the regulators and the ministry. It met last month for the first time to sort out various issues involved in the merger process………………………………………..Full Article: Source

Deutsche Boerse to invest in Indian commodity exchange

Posted on 01 April 2015 by VRS  |  Email |Print

Deutsche Börse Group intends to acquire a minority stake in a new commodities exchange in India. While the German exchange has declined comment, a spokesperson for the Bombay Stock Exchange (BSE) told ShareCast on Tuesday that Deutsche Börse’s planned stake could be in the region of 5%, as the Indian exchange moves to set-up a new commodities trading outfit at a special economic zone in India’s Gujarat state.
The move, should it materialise, would not be the first Indian foray for Deutsche Börse. In 2007, it took a 5% stake in the BSE. Both the BSE and Deutsche Börse already have a wide-ranging technological partnership. The BSE currently deploys Deutsche Börse’s N7 trading network synced to its equity and derivatives platforms………………………………………..Full Article: Source

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

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