SMX trading volumes surpass 5000 mark in July

The exchange’s larger basket of contracts provide accessibility to a wider range of market participants.

Singapore Mercantile Exchange (SMX), the first trans-Asian multi-product commodity and currency derivatives exchange, has seen a spurt in trading volumes over the last few weeks. In July, SMX has crossed the psychological 5,000 volume mark registering 5,458 trades on July 26. There were other days in July as well when trading marginally exceeded the 5,000 mark.

Mr. V Hariharan, interim CEO of the Singapore Mercantile Exchange, said: “The exchange is witnessing better traction in the base metal and currency baskets and we hope to see enhanced overall trading as more contracts in other categories get launched over the next few weeks,”

SMX went live on August 31, 2010 with the introduction of futures contracts for Singapore deliverable gold, currency pair Euro-USD, WTI crude and Brent crude priced in Euros. Subsequently on April 15, 2011, SMX introduced contracts in cash-settled gold, silver and copper futures and later on April 29, 2011 began trading cash settled AUD-USD and USD-JPY currency pair futures, according to an SMX report.

SMX trading sessions span Asian, European and US business hours, with central counterparty clearing performed by SMX Clearing Corporation (SMXCC). The SMX platform allows remote participation through its diverse network of members and ISVs. The Exchange also offers its own proprietary front-end solution for direct market access.

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