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SINGAPORE: The Singapore Commodity Exchange (SICOM) will start trading its new Gold Deferred Settlement Contract on 30 March.
SICOM said the contract's unique feature is that it is priced as a spot contract with deferred settlement.
Deferred settlement occurs when open positions at the end of each trading day are automatically "rolled forward" using current interest rates.
SICOM added that its gold contract allows market participants to gain exposure to the international spot gold price without having to handle any physical delivery of gold.
It also pointed out that market participants can benefit from better risk management and more competitive bid-ask quotes with SICOM as the central counterparty in an open access marketplace.
Trading hours of this contract are from 8.30am to 11pm Singapore time, capturing both the Asian and European trading hours.
- CNA/ir
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