Posted on 16 November 2012 by VRS | Email |Print
Financial Technologies promoted National Spot Exchange (NSEL), India’s largest electronic commodity spot exchange, has signed a memorandum of understanding (MoU) with Belarusian Universal Commodity Exchange (BUCE), the largest Commodity Spot Exchange in Belarus for facilitating trade with countries in the eastern Europe.
The MoU will help Indians export a number of agri commodities to Belarus where BUCE would provide counter guarantee for developing markets and booking orders. In India, however, NSEL would guarantee the quality and quantity on behalf of individual exporters………………………………………..Full Article: Source
Posted on 16 November 2012 by VRS | Email |Print
The federal government has commenced the process of transforming the Abuja Securities and Commodity Exchange into a first-class commodity exchange as part of the Ministry of Trade and Investment’s plan for the nation’s industrial revolution.
Permanent Secretary in the Ministry of Trade and investment, Mr, Dauda Kigbu revealed that the Ministry has already initiated reforms aimed at making the Abuja Securities and Commodity Exchange a world class institution. This he claimed is in line with the transformation agenda of President Goodluck Jonathan’s administration………………………………………..Full Article: Source
Posted on 05 November 2012 by VRS | Email |Print
Volume growth in derivatives and commodities trading and clearing hit a record high last month, but the securities market activity declined, said the Singapore Exchange (SGX).
According to its monthly report, the turnover for securities fell 6 per cent year-on-year to S$26 billion last month, while daily average value (SDAV) fell 14 per cent to S$1.2 billion. Month-on-month, turnover fell 8 per cent from September, while SDAV was down 16 per cent………………………………………..Full Article: Source
Posted on 30 October 2012 by VRS | Email |Print
The European Parliament’s vote on the EU’s proposed Market in Financial Instruments Directive and Market in Financial Instruments Regulation could restrict choice for investors and push more commodities trade toward exchanges, financial trading association the International Swaps and Derivatives Association warned Monday.
EU lawmakers voted on Friday to back the EU legislation intended to curb speculation in commodity derivatives trading, including the use of position limits, but with several amendments. ISDA said many of these changes were welcome but expressed concern over some……………………………………….Full Article: Source
Posted on 29 October 2012 by VRS | Email |Print
NYSE Euronext will close a European carbon-trading exchange following a decline in trading and a series of scandals that rocked the region’s emissions market in recent years. Paris-based BlueNext SA, majority-owned by the Big Board parent, will cease operations on Dec. 5, according to a spokesman for the market.
The closure comes as NYSE Euronext has sought to trim underperforming or less-critical ventures to help deal with a lingering slowdown in trading activity. Earlier this year, the exchange group ended a joint venture geared toward developing carbon markets in the U.S. and Asia………………………………………..Full Article: Source
Posted on 22 October 2012 by VRS | Email |Print
In order to curb free flow of contracts on exchange platform, the Forward Markets Commission (FMC) is planning to frame criteria for agri commodities for determining their launch on futures exchange. Confirming the development, the FMC chairman Ramesh Abhishek, said, “Criteria are being worked out which would determine whether commodities are fit for trading on futures exchanges or not.”
According to informed sources, the FMC would categorize all commodities currently being produced, consumed and traded in India. Beginning from the top, the proposed four categories would begin with the most popular – soya, bullion, base metals, steel and energy; and end with the least popular - region specific agri commodities including isabgul, funnel seed etc………………………………………..Full Article: Source
Posted on 18 October 2012 by VRS | Email |Print
U.S. market operator Nasdaq OMX and Chinese firm Dalian Commodity Exchange unveiled a partnership Monday to seek new business opportunities in China and globally. The two companies pledged in a memorandum of understanding to “carry out extensive and in-depth cooperation in terms of visits, information sharing, trading technology and consulting services,” they said in a statement.
Liu Xingqiang, president and chief executive of Dalian Commodity Exchange, and Sandy Frucher, vice chairman of Nasdaq OMX, attended the signing ceremony in Taipei………………………………………..Full Article: Source
Posted on 16 October 2012 by VRS | Email |Print
Hong Kong Exchanges and Clearing Ltd.’s deal to buy the London Metal Exchange will lead to new commodity offerings and provide the best opportunity for exposure to Chinese growth and liberalization, Hong Kong Exchanges’ Chief Executive Charles Li said Monday.
The London Metal Exchange is primarily a marketplace for base metals such as copper and aluminum. The Hong Kong Exchanges group, or HKEx, is one of the world’s largest exchange owners by market capitalization……………………………………….Full Article: Source
Posted on 12 October 2012 by VRS | Email |Print
Two of the world’s top commodity exchange powerhouses are scrambling to turn new regulations to their advantage in an important but largely hidden piece of their business, the trading and clearing of energy swaps.
Chicago-based giant CME Group Inc. has lost ground in the estimated 747.8 million pounds-a-year business of guaranteeing over-the-counter swaps to arch-rival IntercontinentalExchange Inc. in recent years, company data show, as the Atlanta-based upstart offered cutting-edge trade technology………………………………………..Full Article: Source
Posted on 05 October 2012 by VRS | Email |Print
The clearance of Forward Contracts Regulation Act (Amendment) Bill 2010 by the Union cabinet today is a boost for the much-needed policy reforms in the Indian commodity market, MCX MD and CEO Shreekant Javalgekar said in a statement here.
Javalgekar said the bill, once passed, will bring the Indian commodity trade on par with global practices. The amended FCRA will not only strengthen the Indian commodity market regulator, but also pave the way for introduction of new tools for hedging and price risk management, facilitate better price discovery, and create Indian benchmark prices for commodities which are widely produced or consumed in India, he added………………………………………..Full Article: Source
Posted on 04 October 2012 by VRS | Email |Print
Exchange operators CME Group and ICE Futures U.S. said on Wednesday they would stick with their existing position limits regimes after a court threw out the U.S. Commodity Futures Trading Commission’s (CFTC) new rule to curb commodity market speculation.
CME Group and ICE, a subsidiary of IntercontinentalExchange Inc, had proposed revisions to their own position limit rules to bring them in line with the changes mandated by the CFTC. Those changes were due to come into effect on Oct. 12, but the rule was thrown out by the U.S. District Court of Columbia on Friday following a lengthy challenge by Wall Street banks………………………………………..Full Article: Source
Posted on 17 September 2012 by VRS | Email |Print
Base metals have soared to a sharply higher close on the London Metal Exchange (LME), buoyed by in part by short-covering following news of a further stimulus injection by the US Federal Reserve.
At the close of open outcry trading on Friday, LME three-month copper was up 3.8 per cent at $US8,380 a metric ton, having earlier hit its highest level since May 2 at $8,411/ton. Tin gained the most, rising by more than $US1,300/ton or 6.5 per cent to end the session at $US21,675/ton………………………………………..Full Article: Source
Posted on 12 September 2012 by VRS | Email |Print
The Guangzhou carbon emission rights trading exchange was launched in Guangzhou, Guangdong province, on Tuesday. Carbon trading is an important way to promote ecology and lower the cost of emissions with the market mechanism, said Xie Zhenhua, vice minister of the National Development and Reform Commission, at the launching ceremony.
Xie urged the strengthening of market supervision, maintaining market stability and setting rules governing carbon trading, since the building of a carbon market requires long-term sustained efforts, according to a statement by the provincial government………………………………………..Full Article: Source
Posted on 04 September 2012 by VRS | Email |Print
India’s sixth national commodity bourse is planning to launch operations by the end of this year, its founder said Monday. Universal Commodity Exchange Ltd. officials will meet soon to finalize the launch date, Ketan Sheth said. The bourse recently obtained approval from the consumer affairs ministry, which oversees commodity futures trade, Mr. Sheth said.
A proposal to amend the law governing commodity derivatives markets will likely be introduced in Parliament soon in a move that will increase market liquidity by allowing options trading while also providing for financial institutions to participate in the market. This is stimulating interest among private investors to launch new bourses……………………………………..Full Article: Source
Posted on 23 August 2012 by VRS | Email |Print
India’s sixth nationwide commodity futures trading platform — Universal Commodity Exchange (UCX) — is set to go live soon as the Forward Markets Commission (FMC) has sent its favourable recommendations to its parent ministry, the Ministry of Consumer Affairs (MCA).
The other five commodity futures platforms that are currently in existence are: The Multi Commodity Exchange (MCX), National Commodity & Derivatives Exchange (NCDEX), National Multi Commodity Exchange (NMCE), Ace Derivatives and Commodity Exchange (ACE) and Indian Commodity Exchange (ICEX)………………………………………..Full Article: Source
Posted on 21 August 2012 by VRS | Email |Print
The Forward Markets Commission (FMC) has done away with several agri-commodities contracts for 2013, extending the list of contracts already banned. This is in keeping with its decision that contracts will not be allowed during the lean season when there are insufficient supplies to make for any meaningful price discovery.
“This year we did away with the September soyabean contract,” said Ramesh Abhishek, Chairman of FMC – the commodities market regulator………………………………………..Full Article: Source
Posted on 21 August 2012 by VRS | Email |Print
Malaysia’s planned mercantile exchange should give priority to physical delivery as a mode of settlement over cash as genuine investors want to receive the actual product, said a veteran futures trader.
While the majority of futures contracts are cash-settled owing to the logistics costs that accompany physical delivery, Singapore-based commodity expert Dar Wong told StarBiz that goldsmiths, mint companies and bullion firms were among those who needed the commodity tied to their futures contracts………………………………………..Full Article: Source
Posted on 17 August 2012 by VRS | Email |Print
To its detractors, the over-the-counter (OTC) derivatives market is like a rigged poker game. They picture a smoke-filled room, in which unsuspecting clients are mastered by skilful opponents at investment banks known, perhaps appropriately, as dealers.
Now regulators are trying to move more of the game into the open, by shifting OTC derivatives trades onto exchanges or electronic platforms by the end of this year, a target agreed on by G20 leaders in 2009………………………………………..Full Article: Source
Posted on 13 August 2012 by VRS | Email |Print
Total turnover of commodity exchanges rose by 7 per cent to Rs 56.64 lakh crore in April- July this year buoyed by trade in energy and farm commodities. The exchanges had made a business of Rs 53.11 lakh crore in the same period last year, commodity markets regulator FMC said.
Barring gold and silver, the business from energy items like crude oil, natural gas, and farm commodities such as soyaoil, soyabean, mustard seed and chana, remained high in the April-July period of 2012-13 fiscal………………………………………..Full Article: Source
Posted on 09 August 2012 by VRS | Email |Print
India’s commodity exchanges will have to disclose all trading positions of members and their clients from Aug. 13, the markets regulator told Reuters, in a bid to boost transparency and cut volatility as a drought ramps up farm goods prices.
“Whatever the proportion of proprietary and client trades in a commodity, the exchanges have been asked to display on the websites,” Ramesh Abhishek, chairman of the Forward Markets Commission, told Reuters………………………………………..Full Article: Source
Posted on 09 August 2012 by VRS | Email |Print
The acquisition of the London Metal Exchange will be a breakthrough in further promoting yuan internationalization and tapping the business potential of the mainland commodity derivatives’ sector, the Hong Kong Exchanges & Clearing Ltd said.
HKEx, the world’s second-largest bourse by market value, successfully bid in June for the LME by agreeing to pay HK$16.67 billion ($2.14 billion) to LME shareholders. The acquisition deal is being reviewed by UK financial regulatory bodies and is expected to be completed by the fourth quarter of 2012………………………………………..Full Article: Source
Posted on 07 August 2012 by VRS | Email |Print
The Zambian Agricultural Commodities Exchange, which halted operations in July last year, plans to resume trading by the end of the year, executive director Brian Tembo said. The bourse, known as Zamace, hopes to sign a preliminary agreement this week with Zambia’s Lloyds Financials Ltd. for the lender to take a 10 percent stake in the agricultural exchange, Tembo said.
The Zambia National Farmers Union, which represents growers, may buy as much as 20 percent of Zamace, he said. Delays in regulatory changes caused Zamace to miss its previous target to resume trading by May, Tembo said………………………………………..Full Article: Source
Posted on 07 August 2012 by VRS | Email |Print
Multi Commodity Exchange Ltd surged over 2 per cent in early trade on Monday after the company said on Sunday that it received approval from market regulator Sebi and the RBI to launch currency options on its platform.
The Sebi-RBI nod came nearly four years after MCX-SX started its currency derivatives trading platform, the only one that it offers currently. “At July-end, it had a turnover of about Rs 13,500 crore in the currency derivatives segment, and a market share of 43.6 per cent. The two other exchanges which offer currency derivatives trading platform are NSE and United Stock Exchange (USE),” TNN reported………………………………………..Full Article: Source
Posted on 07 August 2012 by VRS | Email |Print
IntercontinentalExchange (ICE) last week surprised the derivatives world by announcing that all its over-the-counter cleared energy swaps will be converted to futures contracts from January 2013.
Most market participants had expected these products to be brought within the framework of futures regulation after new rules implementing the Dodd-Frank Act reversed the previous advantages for OTC swap contracts compared with exchange-traded futures………………………………………..Full Article: Source
Posted on 02 August 2012 by VRS | Email |Print
IntercontinentalExchange Inc.’s (ICE) second-quarter earnings rose 18% as the commodity exchange operator saw revenue boosted by higher market data and transaction and clearing fees.
Growth in Atlanta-based ICE’s futures division over the period outshined a slight decline in revenues from facilitating privately agreed transactions in swaps and other over-the-counter derivatives, as the firm prepares early next year to migrate more trading to its listed derivatives platforms………………………………………..Full Article: Source
Posted on 30 July 2012 by VRS | Email |Print
The turnover of 21 commodity exchanges has risen by 6.5 per cent to Rs 48.29 lakh crore till July 15 of the current fiscal despite a fall in trade volumes in gold and silver, according to the Forward Markets Commission (FMC).
The turnover of these exchanges stood Rs 45.34 lakh crore in the same period last fiscal, the commodity markets regulator FMC said on its website………………………………………..Full Article: Source
Posted on 25 July 2012 by VRS | Email |Print
The London Metal Exchange’s impending sale to Hong Kong Exchanges and Clearing, operator of the Hong Kong Stock Exchange, represents more than just another international buyout. The $2.2 billion purchase is a stark reminder of Asia’s dominant influence on the world’s major commodities markets.
The Hong Kong exchange, the third largest in Asia behind Tokyo and Shanghai by market capitalization, has successfully positioned itself over the past decade as the leading gateway between international investors and China, becoming the destination of choice for offshore IPOs by Chinese corporations………………………………………..Full Article: Source
Posted on 24 July 2012 by VRS | Email |Print
The Kotak Group-promoted ACE Commodity Exchange’s daily turnover touched a record Rs 1,332 crore on July 23. “The turnover on the exchange today hit a record high of Rs 1,332 crore,” the exchange statement said.
The ACE, which was launched as a national-level commodity exchange in 2010, offers trading in eight agri commodities — castor, chana, mustard seed, guar seed, guar gum, refined soy oil, soybean and sugar………………………………………..Full Article: Source
Posted on 16 July 2012 by VRS | Email |Print
The Dubai Gold and Commodities Exchange (DGCX) has been named the ‘Best Global Commodities Exchange’ by the Global Banking & Finance Review.
The award recognises DGCX’s exceptional trade volume expansion and product innovation during the last year. The annual Global Banking and Finance Review Awards recognise achievement, challenge, progress and inspirational change in the global financial industry………………………………………..Full Article: Source
Posted on 12 July 2012 by VRS | Email |Print
The Multi Commodity Exchange of India and Financial Technologies Ltd, the promoters of MCX Stock Exchange (MCX-SX), rallied in trade today after MCX-SX got the nod from the market regulator to start operations as a full-fledged stock exchange.
“The permission granted by SEBI to MCX-SX to deal in equity and equity futures & options, interest rate futures and options, interest rate futures and wholesale debt segments, subject to a few conditions, will boost the investor confidence on the company,” said Sanjeev Jain, Research Analyst- BFSI at Microsec Capital Ltd………………………………………..Full Article: Source
Posted on 09 July 2012 by VRS | Email |Print
The sharp fall in commodity prices is taking its toll on the Multi Commodity Exchange of India Ltd’s volumes. In the just-concluded April-June quarter, the exchange has registered a mere 8.4% year-on-year (y-o-y) growth in volumes in value terms. In the preceding five quarters, the company on an average saw a 61.9% growth in volumes.
The deceleration in volume growth has coincided with the fall in commodity prices. As silver prices eased from Rs. 56,000 a kilogram (kg) in April this year to Rs. 52,000 by end June, volumes (kg) in the segment saw a 3.8% sequential drop in June quarter………………………………………..Full Article: Source
Posted on 06 July 2012 by VRS | Email |Print
The Hong Kong stock exchange will launch a new platform offering commodity trading and settlement within the Asian time zone, Ronald Arculli, former chairman of the local bourse operator, said.
Arculli - now an independent non-executive director of Hong Kong Exchanges and Clearing - said the move follows the recent HKEx acquisition of the London Metals Exchange………………………………Full Article: Source
Posted on 06 July 2012 by VRS | Email |Print
China’s stocks fell for a third day on concern the nation’s economic slowdown is deepening, overshadowing the central bank’s second interest-rate cut in a month. The Shanghai Composite Index slipped 5.9 points, or 0.3 percent, to 2,195.40 at 10:33 a.m. local time, erasing a gain of as much as 0.4 percent. The CSI 300 Index lost 0.1 percent to 2,429.21, led by energy and material companies.
China Vanke Co. surged 2.7 percent and property developers rallied on the prospect lower borrowing costs will stimulate housing demand. China Construction Bank Corp. fell 1 percent on concern bank net interest margins will narrow, hurting earnings………………………………Full Article: Source
Posted on 05 July 2012 by VRS | Email |Print
The Baltic Exchange, whose benchmarks for freight rates cover about 75 percent of global commodity cargoes, plans to double its Asian membership in the next two years to reflect a decade-long surge in trade to the region.
Quentin Soanes, who starts as chairman today, wants 25 percent of the Baltic’s members to come from Asia by the end of his two-year term, from 10 percent to 15 percent now. The 268- year-old London bourse will convert its Singapore representative office into a full subsidiary that can collect fees and recruit new members, he said……………………………………….Full Article: Source
Posted on 29 June 2012 by VRS | Email |Print
Commodity exchanges should be established for the metals and minerals that South Africa supplies from a dominant global position.
That is the upheaval remedy that Pan-African Capital CE Dr Iraj Abedian advocates for the currently stricken platinum mining and ferrochrome industries in particular, at a time when Mineral Resources Minister Susan Shanbangu is putting government, business and labour heads together to arrive at solutions………………………………………..Full Article: Source
Posted on 28 June 2012 by VRS | Email |Print
Global trade experts have expressed doubts about the ability of Ghana to effectively float a Commodities Exchange system at the scheduled time being promised by government and capital market officials in the country.
It is feared that the country may overshoot the timelines that it has set for itself. Capital market regulator, the Securities and Exchange Commission (SEC), has set a 2013 deadline while some ambitious government officials have indicated a starting date not exceeding the close of 2012………………………………………..Full Article: Source
Posted on 27 June 2012 by VRS | Email |Print
The Indonesian government has announced it will open up its two commodity exchanges to foreign ownership, in a move aimed at attracting better trading business.
The government is preparing to allow foreign companies to own up to a 40% stake in the Jakarta Futures Exchange and the Indonesia Commodity & Derivatives Exchange, according to local news reports………………………………………..Full Article: Source
Posted on 27 June 2012 by VRS | Email |Print
CME Group Inc. (CME) attorneys told a U.S. judge that a lawsuit by Chicago Board of Trade traders and brokers seeking to preserve open-outcry price settlement belongs in a federal court, not a state court.
Twenty-four agricultural traders and brokers filed a state court lawsuit on June 22 seeking an order blocking the world’s biggest futures market from changing their traditional method of price settlement to a blended method incorporating electronic trading activity………………………………………..Full Article: Source
Posted on 26 June 2012 by VRS | Email |Print
The government is planning to bring electronic commodity spot exchanges under Forward Markets Commission(FMC) regulations, Food Minister K V Thomas said.
“The Department of Consumer Affairs Ministry wants FMC to regulate spot exchanges. We have received the draft regulation and hope it will be cleared soon,” the Minister said………………………………………..Full Article: Source
Posted on 26 June 2012 by VRS | Email |Print
Fresh after securing a deal to buy the London Metal Exchange earlier this month, Hong Kong’s ambitious bourse is now trying for another goal–a dual-currency stock on its exchange.
A year ago, Hong Kong Exchanges & Clearing Ltd. released details of how a company could list in both local Hong Kong dollars and the Chinese yuan, and in January added facilities so investors without access to enough yuan can still trade yuan stocks listed on the bourse………………………………………..Full Article: Source
Posted on 22 June 2012 by VRS | Email |Print
Mumbai-headquartered Multi-Commodity Exchange (MCX) has recently announced that it became world’s third biggest commodity futures exchange in 2011 in terms of volume of contracts. It was ranked 6th in 2010 and has overtaken Europe’s Intercontinental Exchange and China’s Shanghai Futures Exchange and Dalian Commodity Exchange.
MCX mentioned its volumes jumped 75.5% to 346.2 million contracts in 2011, while the volumes of CME group, which includes CME, CBOT and NYMEX, grew 11.2% to 677.2 million contracts to take the first position. Zhengzhou Commodity Exchange in China was second with 406.4 million contracts trading in 2011………………………………………..Full Article: Source
Posted on 20 June 2012 by VRS | Email |Print
Last week’s bid by the Hong Kong Exchanges (HKE) for the London Metal Exchange (LME) flew under the radar, but its underlying importance is paramount.
In the most expensive bid ever for an exchange, HKE is looking to acquire the world’s largest metals market place for more than $2 billion, shifting the global hub for metals trading to the East………………………………………..Full Article: Source
Posted on 18 June 2012 by VRS | Email |Print
Hong Kong Exchanges & Clearing Ltd.’s bid for the London Metal Exchange, the most expensive bourse merger over $1 billion, may succeed in gaining the approval of regulators who’ve scuttled $32 billion of similar cross-border deals.
Hong Kong’s offer of 107.6 pounds a share, or 180 times LME’s 2011 net income, requires approvals from LME’s shareholders and the U.K……………………………………….Full Article: Source
Posted on 18 June 2012 by VRS | Email |Print
The Ministry of Trade and Industry (MOTI) in collaboration with the Securities and Exchange Commission (SEC) is to establish a Commodity Exchange Market where farm produce could be traded on the stock market.
The move, according to Mr. Adu Anane-Antwi, Chairman of the SEC, was to reduce post harvest loses as it provided farmers ready markets for their goods………………………………………..Full Article: Source
Posted on 13 June 2012 by VRS | Email |Print
In 2011, Kazakhstan’s commodity exchanges increased their turnover fivefold. The ETS Commodity Exchange occupies a leading position. Here, the volume of trading in agricultural products section exceeded 1 million tons in 4 months alone while a turnover in futures contracts in the futures market section reached nearly 140 billion tenge in April 2012.
2011 was a successful year for Kazakhstan’s commodity markets and the positive trend has continued this year. According to experts from the Ministry of Economic Development and Trade, contracts worth about three billion US dollars were signed at the trading floors of Kazakhstan. This is five times greater than in 2010………………………………………..Full Article: Source
Posted on 12 June 2012 by VRS | Email |Print
Barring National Multi Commodity Exchange (NMCE), all national commodity exchanges remained heavily dependent on the top five commodities, which generated more than 75 per cent of their turnover in the first quarter of the current calendar year. The business of NMCE, however, remained somewhat diversified, spreading across all listed commodities on this platform.
Data compiled by the derivatives market regulator, the Forward Markets Commission (FMC), showed the top five commodities — silver, gold, crude oil, copper & nickel — generated 86.8 per cent of business on the country’s largest commodity exchange, the Multi Commodity Exchange (MCX), to the tune of Rs 31,38,706 crore in the first quarter of 2012………………………………………..Full Article: Source
Posted on 11 June 2012 by VRS | Email |Print
The Tokyo Commodity Exchange (TOCOM), Japan’s largest commodity futures exchange, will accept the transfer of soybeans, azuki, corn and raw sugar contracts from the Tokyo Grain Exchange (TGE). The decision was made at the board of directors meeting on May 30.
TOCOM said it plans to launch an agricultural market in February 2013 and will manage the processing of open positions and orders remaining on the TGE market………………………………………..Full Article: Source
Posted on 08 June 2012 by VRS | Email |Print
Commodities daily trading on NYSE Liffe slumped 10 percent in May, led by a drop in cocoa futures. An average 73,227 commodity contracts changed hands on NYSE Liffe last month, down from 81,003 futures and options in April and 81,360 in May last year, the exchange said.
Cocoa futures trading declined 18 percent to 13,622 contracts a day and milling wheat futures trading was down 15 percent to 20,817 a day, it said………………………………………..Full Article: Source
Posted on 07 June 2012 by VRS | Email |Print
The two remaining suitors for the London Metal Exchange (LME) will resubmit proposals on Thursday and are likely to raise their bids in the final stages of a contest to buy the world’s biggest metals marketplace, sources close to the situation said.
The content of bids by InterContinental Exchange and Hong Kong Exchanges and Clearing are similar, the sources have told Reuters………………………………………..Full Article: Source
Posted on 06 June 2012 by VRS | Email |Print
Both the Northeast Asia Commodity Exchange opening ceremony and the headquarters building cornerstone laying ceremony was held in Dalian, Liaoning province on May 29, 2012.
The newly-established Northeast Asia Commodity Exchange is expected to realize a trade volume of 400 billion yuan ($63.16 billion), earning revenue of 400 million yuan, and paying 200 million in tax annually………………………………………..Full Article: Source
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