singapore-commodities-exchange-in-the-works

Singapore commodities exchange in the works

India's Financial Technologies announces plans for the new exchange just weeks after a similar initiative was revealed in Hong Kong, underlining the continued competition between the two trading hubs.

By Anette Jönsson

July 10, 2008

Financial Technologies, an Indian company specialising in the establishment and operation of exchanges, has announced plans to set up a new commodities derivatives exchange in Singapore that will complement the over-the-counter trading of commodities that is already taking place in the city state.

The announcement comes only two weeks after a group of private individuals said that they will be setting up a commodities exchange in Hong Kong in the first quarter of 2009. In the words of the private group, the Hong Kong exchange will fill a gap that exists in that there are no commodities futures contracts available in the Asian time zone that meet the hedging needs both of the Chinese end-users...

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