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CME Group to Acquire Trayport and FENICS from GFI Group

Posted on 31 July 2014 by VRS  |  Email |Print

CME Group, the world’s leading and most diverse derivatives marketplace, and GFI Group Inc., a leading intermediary and provider of trading technologies and support services to the global OTC and listed markets, today announced that they have entered into definitive agreements to create value for their respective stockholders through a two-step transaction through which:
CME Group will acquire Trayport and FENICS. CME Group will purchase these businesses by first acquiring all of the outstanding shares of GFI Group in exchange for $4.55 per share in CME Group Class A Common Stock which represents a 46% premium above yesterday’s closing price of $3.11 per share of GFI Group common stock………………………………………..Full Article: Source

Shanghai FTZ will launch a commodities exchange; will debut with copper

Posted on 30 July 2014 by VRS  |  Email |Print

The Shanghai free trade zone (FTZ) will get a physical commodity trading exchange towards the end of this year, and copper will be its first product, market sources told Metal Bulletin.
“This new platform is likely to debut towards the end of this year,” a source with government connections said. “With this new exchange, investors will be able to trade cargoes in the bonded zone - for example, copper warehouse receipts - more freely, transparently and efficiently.”……………………………………….Full Article: Source

The Japan Exchange to break into commodities and OTC

Posted on 29 July 2014 by VRS  |  Email |Print

The Japan Exchange plans to build a new derivatives trading system with Nasdaq OMX and Japanese software vendor NTT Data Corporation, as part of a medium-term strategy to grow trading and prepare for swap market reforms.
The exchange group said in an announcement that it plans to replace its current system, also supplied by Nasdaq OMX, in 2016. According to the Japan Exchange its new derivatives exchange will improve risk management functions and allow it to list a wider range of products than is currently possible………………………………………..Full Article: Source

India: Commodity Exchanges’ Turnover Down Over 62% as of July 15

Posted on 24 July 2014 by VRS  |  Email |Print

Commodity exchanges’ turnover declined over 62 per cent to Rs. 17.25 lakh crore till July 15 of the current fiscal year due to poor trading volumes in almost all commodities, the Forward Markets Commission (FMC) said on Wednesday.
The business at these bourses stood at Rs. 45.53 lakh crore in the same period of last financial year, the regulator said in a statement. The maximum fall in the turnover was seen in bullion followed by energy, metals and agricultural commodities………………………………………..Full Article: Source

What’s commodities exchange?

Posted on 24 July 2014 by VRS  |  Email |Print

One of the biggest shocks in markets and trading last year in India had to do with an exchange called the NSEL, or the National Spot Exchange Ltd. Investors and traders in the NSEL lost nearly Rs 5600 crore because the exchange was mismanaged.
While you might be unfamiliar with the scam, you might find the idea of a commodities exchange slightly intriguing and definitely different from the stock exchanges that are usually discussed in this space………………………………………..Full Article: Source

Is Nat’l Multi Commodity Exchange looking to wind-up ops?

Posted on 23 July 2014 by VRS  |  Email |Print

It is tough times for the commodities market - after the levy of Commodity Transaction Tax (CTT), and the NSEL fiasco , volumes in the commodity space have dropped by more than 40%. This has forced two commodities exchanges - Anil Ambani promoted ICEX, and Ketan Seth promoted United Commodity Exchange to shut their trading operations over the last one year.
Now, the country’s third largest commodity exchange, the National Multi Commodity Exchange or NMCE, famous for its rubber trade is also facing threat of a possible closure. NMCE, which was under the FMC scrutiny over related party trades few years back, has been served with a tax penalty of around Rs 15-20 crore. For NMCE whose volumes dropped by 60%, over the last one year, this tax impact will be a major concern as its net worth stands at just Rs 19 crore………………………………………..Full Article: Source

HKEx’s takeover of LME is ‘risky bet’ that could yet pay off

Posted on 21 July 2014 by VRS  |  Email |Print

While the Hong Kong Exchanges and Clearing has been busy getting into bed with former rival Shanghai to develop cross-trading of stocks, some brokers wonder whether the local bourse was wise to cut a big cheque to buy the London Metal Exchange.
“It is hard for the HKEx to break even by paying such a high price to buy the LME. The takeover is a short cut for the HKEx to expand into commodity trading but the high price means it is a risky bet,” said Joseph Tong Tang, executive director of Sun Hung Kai Financial………………………………………..Full Article: Source

UCX suspends trade within 18 mths of launch

Posted on 17 July 2014 by VRS  |  Email |Print

Within 18 months of commencing operations, IT People-promoted Universal Commodity Exchange (UCX), India’s sixth nationwide commodity futures trading platform, has suspended trade in all commodities, with immediate effect. With this, UCX became the second exchange to suspend futures trade in commodities. Early this year, MMTC-Indiabulls-promoted and Reliance Group-anchored Indian Commodities Exchange (ICEX) had suspended trade.
In a circular, UCX said, “Due to prevailing market conditions, it has been decided to suspend the trading activities of the exchange temporarily, subject to the approval of the regulator Forward Markets Commission (FMC) till the time a renewed plan is put in place.”……………………………………….Full Article: Source

India: Commodity exchanges Q1 turnover drops 65%

Posted on 16 July 2014 by VRS  |  Email |Print

The turnover of commodity exchanges fell by 65% to Rs.14.55 trillion in the first quarter of the current fiscal due to poor volumes in most commodities, the Forward Markets Commission (FMC) said. The turnover at these commodity bourses stood at Rs.41.45 trillion in the same period last year.
Much of the fall was seen in bullion, followed by energy, metals and agricultural commodities, FMC data showed. According to the FMC, the turnover from bullion fell by 73% to Rs.5.23 trillion in April-June this year, against Rs.19.38 trillion in the same period a year ago……………………………………….Full Article: Source

As silver fix decision nears, LME joins hands with Autilla

Posted on 10 July 2014 by VRS  |  Email |Print

The London Metal Exchange and technology firm Autilla joined forces yesterday to propose an electronic system for setting the global silver price benchmark as the deadline neared for replacing London’s century-old silver fix.
The 117-year-old price benchmark, or fix, will come to an end on August 14, operator London Silver Market Fixing said in May, as regulatory scrutiny of price-setting intensifies across markets………………………………………..Full Article: Source

LME eyes July launch for silver fix pricing

Posted on 02 July 2014 by VRS  |  Email |Print

British market is one of a number of firms vying to run the silver price mechanism. The London Metal Exchange (LME) is planning to launch its silver price settlement solution and test trade sessions on July 14, one month before the London Silver Market Fixing stops running the benchmark.
Speaking at briefing, a number of LME executives said on Tuesday market participants want an electronic solution and it is targeting a July launch date to ensure banks and other participants have time to prepare for the LME’s launch if it is successful in its bid………………………………………..Full Article: Source

Zimbabwe: ‘Set Up Commodity Exchange’

Posted on 02 July 2014 by VRS  |  Email |Print

The Zimbabwe Government should expedite the operationalisation of the commodity exchange which was first mooted in the early 1990s with the aim of providing an orderly and transparent platform for marketing agricultural products.
A commodity exchange facilitates the orderly trading of any agricultural product in the country. Agricultural products traded on commodity markets across the world include wheat, barley, sugar, maize, cotton, cocoa, coffee, milk products, pork bellies and oil………………………………………..Full Article: Source

NCX To Launch E-Trading System

Posted on 25 June 2014 by VRS  |  Email |Print

The Nigeria Commodity Exchange has revealed plans to inaugurate an electronic warehouse receipt system on July 10, 2014. The Managing Director of the Exchange, Mr. Yusuf Abdurrahman, said this in Lagos on Monday in company with the MD and Chief Executive Officer, Bank of Agriculture, Dr. Mohammed Santuraki; and the MD/CEO, Stanbic IBTC Bank, Mrs. Shola David-Borha.
The NCX, previously called Abuja Commodities and Securities Exchange, is collaborating with both banks, the Central Securities Clearing System Plc and the Federation of Agricultural Commodity Association of Nigeria on the project. Stanbic IBTC is the settlement bank………………………………………..Full Article: Source

Europe’s biggest stock-exchange group becomes independent

Posted on 20 June 2014 by VRS  |  Email |Print

It looked an ambitious project when the bourses of Paris, Amsterdam and Brussels joined forces in 2000 to create a pan-European union of stock exchanges. They then acquired the London International Financial Futures and Options Exchange (LIFFE) and Portugal’s Bolsa de Valores.
After seven years of independence, Euronext disappeared into the maw of the New York Stock Exchange, which in turn was bought by IntercontinentalExchange (ICE) in November 2013. ICE has now spat out Euronext, minus LIFFE and its derivatives business. Defining its new role is almost as big a challenge as Euronext faced in the heroic days of its founding………………………………………..Full Article: Source

Forward Markets Commission working on single clearance for commodity exchanges

Posted on 17 June 2014 by VRS  |  Email |Print

The Forward Markets Commission has set up a working group to prepare a roadmap and a structure for a common clearing system for all commodity exchanges in the country in order to reduce transaction costs of market participants and strengthen risk management systems.
The commodity markets regulator announced this in an office memorandum on Monday. The move comes in the backdrop of the payment crisis involving the National Spot Exchange Ltd that broke out in July last year when the exchange could not settle contracts………………………………………..Full Article: Source

Euronext, Dalian exchanges to cooperate on commodities

Posted on 13 June 2014 by VRS  |  Email |Print

European market operator Euronext announced on Thursday plans to develop ties with China’s Dalian Commodity Exchange in a move to boost its agricultural derivatives business following its spin-off from IntercontinentalExchange.
Euronext, which kicked off an initial public offering on Tuesday, operates Paris-based agricultural derivatives and has stressed innovation in derivatives as a focus for the company after its IPO………………………………………..Full Article: Source

FMC sets new norms for commodity exchanges

Posted on 13 June 2014 by VRS  |  Email |Print

Commodity market regulator Forward Markets Commission has amended regulations for corporate governance and independent director in commodity exchange. The regulator has now aligned the norms in line with the new Companies Act.
The new FMC norms lays emphasise on appointment of different committees to assist the management take decisions. To start with, it has suggested formation of eight committees, including the one on technology………………………………………..Full Article: Source

Gold price benchmark open to manipulation-London Metal Exchange CEO

Posted on 11 June 2014 by VRS  |  Email |Print

The global gold price setting benchmark or “fix” is open to manipulation, said the head of the London Metal Exchange (LME), which is competing to offer an alternative to the silver fix when the system is disbanded in August.
The gold and silver fixes, along with other commodity benchmarks, have come under increasing scrutiny by regulators in Europe and the United States since a London Interbank Offered Rate (Libor) manipulation case last year………………………………………..Full Article: Source

Eurex concentrates commodity trading on one platform

Posted on 11 June 2014 by VRS  |  Email |Print

The European Energy Exchange (EEX) and Eurex Exchange have decided to concentrate trading in agricultural derivatives within EEX, in which Eurex holds a majority stake of 63%. The move is set to give customers access to a large and standardised offering of commodity derivatives contracts via one platform.
Agricultural derivatives currently tradable on Eurex Exchange will be offered on EEX from 2015. Eurex Exchange’s product portfolio comprises futures on potatoes, skimmed milk powder, whey powder, butter, hogs and piglets. All contracts are quoted in Euro and are settled in cash. Market indices which reflect the underlying physical transactions are used as reference prices………………………………………..Full Article: Source

CME And LME Eye Silver Price Fixing

Posted on 10 June 2014 by VRS  |  Email |Print

In April, London Silver Market Fixing Limited announced that it will stop administrating silver prices in August this year. Meanwhile, the prices will continue to be administrated by members of the London Silver Market Fixing Limited – Deutsche Bank, HSBC and Bank of Nova Scotia.
This news came at a time when a number of U.S.-based investors and traders have filed up to 20 different antitrust claims against Deutsche Bank, HSBC, Barclays, Societe Generale and Bank of Nova Scotia, for collaborating to manipulate gold prices. Subsequently, Deutsche Bank resigned from its seat on London gold fixing after failing to find buyers for the seat………………………………………..Full Article: Source

Japan’s Osaka Exchange Looking to Expand Into Commodity Markets

Posted on 04 June 2014 by VRS  |  Email |Print

Japan Exchange Group Inc., the country’s main bourse operator, is considering expanding into commodities and currencies.
“We have the ambition to expand our product base from securities into the other types of products including commodities,” Hiromi Yamaji, chief executive officer of Osaka Exchange Inc., a unit of Japan Exchange, said in an interview in London yesterday. Precious metals, rubber, oil, liquefied natural gas products and foreign-exchange futures and options are possible, he said………………………………………..Full Article: Source

CME Group Among Those In Talks With LBMA On Alternative To Silver Fixing

Posted on 30 May 2014 by VRS  |  Email |Print

CME Group confirmed Thursday that the U.S. exchange operator is in talks with the London Bullion Market Association on trying to help develop a possible alternative to the London silver fixing.
The London Silver Market Fixing Limited said earlier this month that it will stop administering the London silver fixing after Aug. 14. The LBMA quickly stepped up in looking for feedback for an alternative and launched an online market survey last week. Ahead of the long U.S. Memorial Day weekend, the LBMA said it had already received over 250 responses………………………………………..Full Article: Source

Bohai exchange’s new moly trading platform to boost price transparency, trade in China

Posted on 30 May 2014 by VRS  |  Email |Print

China’s Bohai Commodity Exchange, or BOCE, a government-backed online trading platform, has added molybdenum to its list of spot commodities, and this is expected to boost moly trade in the mainland and increase price transparency, industry sources said Thursday.
On May 27, BOCE — which is headquartered at Tianjin city in Hebei province, north China — officially launched moly concentrate and ferromoly spot trade on its trading platform at its new moly trade center at Luanchan city in Henan Province, central China………………………………………..Full Article: Source

China to launch physical gold exchange

Posted on 28 May 2014 by VRS  |  Email |Print

Reuters reports that China has approached foreign banks and gold producers to participate in a global gold exchange in Shanghai, people familiar with the matter said, as the world’s top producer and importer of the metal seeks greater influence over pricing.
The Shanghai Gold Exchange (SGE) got the go ahead from the central bank last week to launch a global trading platform in the city’s pilot free trade zone, a move that could challenge the dominance of New York and London in gold trade and pricing. Beijing’s plans to open up gold trading comes at a time when the benchmark price-setting process for precious metals is under scrutiny………………………………………..Full Article: Source

EEX and Kazakh Commodity Exchange Caspi sign Cooperation Agreement

Posted on 28 May 2014 by VRS  |  Email |Print

The European Energy Exchange (EEX) and the Kazakh commodity exchange Caspi JSC have concluded a Cooperation Agreement. Signed on 15 May 2014 at the International Carbon Forum in Astana, Kazakhstan, both companies expressed their joint commitment to develop exchange-based emissions trading within the Kazakh emissions trading scheme.
“EEX supports the use of market-based instruments in climate policy and the long-term vision of a globally-linked emissions market”, says Peter Reitz, Chief Executive Officer of EEX. “Therefore, we appreciate Kazakhstan’s engagement as the first Asian country to launch a national carbon market and are glad to support the development of Caspi JSC as the Kazakh emissions market.”……………………………………….Full Article: Source

Commex norms to be in sync with Companies Act: FMC

Posted on 28 May 2014 by VRS  |  Email |Print

The Forward Markets Commission is considering a slew of measures to improve the governance of and increase participation in the commodities market. “We will come out with board-of-director norms on the same lines as the current corporate governance norms and the Companies Act,” said a senior FMC official.
As a part of these guidelines, FMC will conduct a performance evaluation of all directors, including independent ones, on company boards. Also, independent directors might hold separate board meetings to decide on board decisions that might serve the interest of promoters alone………………………………………..Full Article: Source

Hong Kong exchange vows to fight new metals lawsuit

Posted on 27 May 2014 by VRS  |  Email |Print

Hong Kong Exchanges & Clearing, owner of the London Metal Exchange, has vowed to fight a fresh legal challenge over its warehouses, this time related to the impact long queues have had on zinc prices.
US-based Duncan Galvanizing Corp filed a lawsuit in New York on Friday alleging that the LME – along with metals warehouse operators such as Goldman Sachs and JPMorgan – has engaged anti-competitive behaviour that has distorted the price of zinc, a metal used to coat steel………………………………………..Full Article: Source

HKEx shareholders benefit from commodities and new listings

Posted on 09 May 2014 by VRS  |  Email |Print

Hong Kong Exchanges and Clearing, which operates the city’s stock and futures markets, reported its profit attributable to shareholders gained 2 per cent in the first quarter. The result was aided by rising fee income from commodities trading and an increase in the number of new listings.
The exchange yesterday said profit for the three months to March stood at HK$1.18 billion, up from HK$1.16 billion a year earlier. The growth was driven by a 5 per cent annual increase in revenue to HK$2.34 billion, which offset a 10 per cent increase in expenses to HK$734 million………………………………………..Full Article: Source

Singapore Exchange hires Citic exec for China derivatives push

Posted on 09 May 2014 by VRS  |  Email |Print

SGX, the Singapore exchange, has hired a top executive at China’s Citic Securities International to head a new office in Hong Kong as part of a focus on drumming up business in Asia amid intensifying competition from exchanges in China.
Ringo Chiu, former chief operating officer at Citic Securities International, will join the Singapore bourse in a newly created job based in Hong Kong that will focus on derivatives, three people familiar with the matter said. SGX has a sales office in Beijing………………………………………..Full Article: Source

SGX beefs up commodities offering

Posted on 08 May 2014 by VRS  |  Email |Print

Singapore Exchange is ramping up its suite of commodities products by offering nine new derivative contracts, a move which underlines the bourse’s aim to cement itself as the region’s leading commodities market.
SGX has announced today that over the next two months it will introduce options-on-futures for iron ore and freight, coking coal derivatives and thermal coal derivatives. The bourse’s new contracts aim to reflect physical commodities flows in the region, allowing producers and consumers of Asian bulk commodities to hedge their positions and trade on a single platform in the Asian time zone………………………………………..Full Article: Source

FMC tightens commodity exchange investment norms

Posted on 07 May 2014 by VRS  |  Email |Print

Tightening shareholding norms of commodity exchanges after the National Spot Exchange (NSEL) crisis, the Forward Markets Commission (FMC), on Tuesday, said no resident individual could hold more than 5 per cent stake in them and scrapped the concept of promoters and anchor investors for such bourses.
In an eight-page document laying out shareholding norms for national-level commodity exchanges, the FMC said at least 51 per cent of the shares of any commodity exchange will have to be held by the public. This is to ensure broader participation in commodity bourses………………………………………..Full Article: Source

India: MoF proposes single clearing platform for commodity exchange trades

Posted on 02 May 2014 by VRS  |  Email |Print

The ministry of finance is working out a roadmap to substantially bring down the transaction cost of trading on the commodity exchanges . According to official sources, in line with the banking system, there is need for common clearing system of the commodity trades. This commonality of clearing of transactions will require a common platform where multiple trades across exchanges can be settled.
In the process, the traders can cut down the transaction cost by becoming the member of a single platform for clearing of trades. At present, a trader will have to pay fees for becoming a member of separate clearing platform floated by different commodity exchanges. This entails heavy cost, multiplicity of trades, cross margining etc………………………………………..Full Article: Source

Shanghai bourse plans to launch base metals index contract

Posted on 25 April 2014 by VRS  |  Email |Print

The Shanghai Futures Exchange (ShFE) plans to launch a futures contract on a base metals index as part of steps to internationalise its business, Chairman Maijun Yang said on Thursday.
ShFE is China’s biggest exchange for base metals, already trading copper, zinc, aluminium and lead. It said last year it also has plans to trade nickel and tin. Yang did not provide a timeframe for the new contracts………………………………………..Full Article: Source

LME to start clearing collateral in yuan as Asia ascends

Posted on 25 April 2014 by VRS  |  Email |Print

The London Metal Exchange will start accepting collateral denominated in Chinese yuan after setting up a clearing house in September as Asia increases its hold over the bourse.
The clearing house will become the “heartbeat” of the LME, the world’s biggest market place for industrial metals, said Chief Executive Officer Garry Jones. Asia’s share of electronic trading at the 137-year-old institution now accounts for 10 percent to 25 percent of the total on any given day, Jones said……………………………………….Full Article: Source

HKEx moves into commodities business

Posted on 23 April 2014 by VRS  |  Email |Print

Hong Kong Exchanges and Clearing took its first step into the commodities business by unveiling plans to list coal and industrial metals futures on its trading platform. HKEx, traditionally a cash equities exchange, expects to offer renminbi-denominated futures for zinc, copper and nickel, and a US dollar contract for thermal coal by the end of this year.
The launch of metals trading marks the first move to establish a commodities platform in Hong Kong, part of a much longer term strategic plan kicked off by HKEx’s $2.2bn purchase of the London Metals Exchange in 2012………………………………………..Full Article: Source

HKEx said to plan coal futures as CEO Li makes commodities push

Posted on 17 April 2014 by VRS  |  Email |Print

Hong Kong Exchanges & Clearing Ltd. Chief Executive Officer Charles Li is said to be picking coal for his company’s first energy product a year after paying a record price for the world’s top metals bourse.
The world’s third-largest exchange operator will introduce thermal coal futures in Hong Kong this year, according to two people with knowledge of the matter. The futures will be denominated in the Chinese currency, said the people, who asked not to be identified because the information isn’t public. Scott Sapp, a Hong Kong-based spokesman for the company, declined to comment……………………………………….Full Article: Source

Zimbabwe: Commodities exchange boon to economy

Posted on 14 April 2014 by VRS  |  Email |Print

The setting up of a vibrant Agricultural Commodity Exchange will be essential for Zimbabwe’s economic recovery as it has the capacity to stimulate the circulation of money, experts have said. A commodities exchange is an open and organised marketplace where ownership titles to standardised quantities or volumes of certain agricultural commodities are traded by its members.
Securities Exchange Commission of Zimbabwe (SECZ) chief executive Tafadzwa Chinamo said such a trading platform could stimulate more circulation of money in the economy, with benefits for investors and producers………………………………………..Full Article: Source

India: Commodity trading hours set to get a ‘break’

Posted on 14 April 2014 by VRS  |  Email |Print

Commodity derivative trading hours, on platforms such as MCX and NCDEX, may soon go in for a break. “We are planning to allow an hour or half-an-hour break for commodity trading as the trading hours are long,” Ramesh Abhishek, Chairman, Forward Markets Commission (FMC), told Business Line. FMC regulates futures trading in commodities.
Currently, commodity trading on various exchanges can be done between 10 a.m. and 11.30 p.m. However, for stock spot and futures trading, the timing is 9.15 a.m. to 3.30 p.m. with 15 minutes extra time before the start of trade for the pre-trading session………………………………………..Full Article: Source

India: Commodities futures trade volumes fall for second year

Posted on 09 April 2014 by VRS  |  Email |Print

Commodity futures trading volumes in India fell 40.49 percent in the year to March 2014, its second straight year of decline, the market regulator said on Tuesday.
In value terms, futures trading at commodity exchanges fell to 101.44 trillion rupees in the first twelve months from April 2013 from 170.46 trillion rupees a year ago, the Forward Markets Commission said in a statement on its website………………………………………..Full Article: Source

LME targets new aluminum contract as soon as end 2014, CEO says

Posted on 09 April 2014 by VRS  |  Email |Print

The London Metal Exchange, the world’s largest industrial metals marketplace, wants to introduce an aluminum premium contract as early as the end of this year, said Chief Executive Officer Garry Jones.
The contract will be 25 metric tons in size and will involve a swap of warrants, or bearer documents for a specific lot of metal, according to a draft of specifications seen by Bloomberg. Consumers usually pay a premium to the exchange price for metal in specific locations………………………………………..Full Article: Source

Dubai’s DGCX to launch agricultural contracts in 2015

Posted on 08 April 2014 by VRS  |  Email |Print

The Dubai Gold and Commodities Exchange (DGCX) is planning to launch agricultural commodities contracts in the first quarter of 2015, the bourse’s chief executive officer said on Monday.
“That’s something we really want to do, as we want to be able to diversify the products that we list on the exchange,” Gary Anderson told Reuters on the sidelines of a precious metals conference in Dubai………………………………………..Full Article: Source

Organic crops may get a commodities exchange

Posted on 04 April 2014 by VRS  |  Email |Print

If you want to know the price of a bushel of corn, you can find it on the website of the Chicago Mercantile Exchange (CME). The market value of organic corn or grains grown without genetically modified seeds is harder to find. These crops are traded privately, with growers negotiating rates with buyers over the phone or via e-mail.
Kellee James wants to change that. As co-founder and chief executive officer of Mercaris, a market data service and online trading platform for organic and non-genetically modified organism commodities, James plans to build an exchange so such crops can trade the same way as conventional commodities………………………………Full Article: Source

Korea Exchange seeks cut of $3 bln illegal gold trade

Posted on 24 March 2014 by VRS  |  Email |Print

South Korea’s equity exchange will start offering physical gold trades for the first time today, as the government seeks to curb as much as $3 billion of black-market transactions.
Korea Exchange Inc., which has offered bullion futures since 1999, aims to gradually replace illegal sales that total as much as 70 metric tons annually and deprive the state of an estimated $280 million in taxes. Customs officers intercepted 360 kilograms last year as the number of busts more than doubled from 2012………………………………………..Full Article: Source

China looks beyond commodity derivatives with equity options launch

Posted on 21 March 2014 by VRS  |  Email |Print

Commodities have been the mainstay of China’s derivative markets so far but the launch of equity options on two of the country’s main exchanges could see this dominance challenged.
Although the first commodity-linked futures contract in China was traded in March 1991 on the Zhengzhou Commodity Exchange, the development of other asset classes including equity-linked futures and options products has lagged markedly with the first futures contract referencing the CSI 300 index, an index of 300 Shanghai and Shenzhen listed A-shares, launched as recently as 2010 on the China Financial Futures Exchange (CFFEX)………………………………………..Full Article: Source

SGX commodity derivatives up 70pct last year

Posted on 21 March 2014 by VRS  |  Email |Print

Commodity derivatives traded via the Singapore Exchange (SGX) rose by 70 per cent last year, outpacing the global growth rate of 23 per cent, SGX said on Thursday.
It said over-the-counter (OTC) Iron Ore was its most popular commodity derivatives contract, with the number of lots traded rising by 166 per cent to 584,157 lots. The highest percentage growth was generated by OTC Rubber, which grew 278 per cent to 2,778 lots………………………………………..Full Article: Source

India: Right mix of speculation, hedging to deepen commodity exchanges: FMC

Posted on 17 March 2014 by VRS  |  Email |Print

Traders and physical market users who trade on domestic commodity futures exchanges may soon witness a deepening of the decade-old market.
To encourage more physical market users to hedge on domestic commodity bourses, regulator Forward Markets Commission (FMC) will soon write to the finance ministry, under which it functions, suggesting that it urge banks to ask their clients to trade on exchanges like MCX and NCDEX. ……………………………………….Full Article: Source

Investors rally to finance New Ghana commodity exchange

Posted on 14 March 2014 by VRS  |  Email |Print

Eleni, a private company positioned as the premier commodity exchange promoter in Africa, has announced today the formation of a private-public investment consortium to finance the establishment of the Ghana Commodity Exchange (GCX).
Investment consortium partners include Ghana’s top tier financial institutions, Data Bank Agrifund Manager Ltd, Ecobank Ghana Ltd, UT Bank Ghana Ltd, as well as IFC, 8 Miles Fund and eleni, with minority stakeholding by the Government of Ghana………………………………………..Full Article: Source

Zimbabwe government moving to set up commodities exchange

Posted on 13 March 2014 by VRS  |  Email |Print

The Zimbabwe government will soon set up a special market for agricultural products as it moves to address the marketing and pricing of crops, says Agriculture, Mechanization and Irrigation Development Minister Dr Joseph Made.
The government was seized with the marketing side of agriculture at a time the country was expecting a bumper harvest, he said here Tuesday, adding that the government was working to establish commodity markets for horticulture and cotton as well as strengthening irrigation………………………………………..Full Article: Source

Shanghai to open up trading of commodities futures

Posted on 13 March 2014 by VRS  |  Email |Print

The Shanghai Futures Exchange is vying for more influence in the global market with plans to open up trading of its long-awaited crude oil futures and a number of other commodities futures to foreign investors.
“China is a big importer of crude, and we rely 60 per cent on crude imports. However, our influence in the global pricing of crude oil has been low, and it doesn’t match with our big consumption,” exchange chairman Yang Maijun said………………………………………..Full Article: Source

Singapore, Dalian exchanges to collaborate on commodity trading

Posted on 13 March 2014 by VRS  |  Email |Print

The Singapore Exchange (SGX) and China’s Dalian Commodity Exchange have signed an agreement to collaborate on developing their commodities businesses, the Singapore bourse said on Monday.
The memorandum of understanding between the two exchanges will allow them to work together on developing commodity derivatives products and investor education, among other areas………………………………………..Full Article: Source

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