APA / dpa:
Singapore Commodity Exchange will start on 31 SMX August
in Singapore is 31 August a new exchange for commodities and currency derivatives at the start. At the Singapore Mercantile Exchange (SMX) can first gold and oil and euro / US dollar forward contracts are made, the company said on Tuesday in Singapore. More products are in the pipeline. "The growing role of Asia in the commodity markets," said Thomas McMahon, head of stock. "The launch of SMX is a step in the right direction to take advantage of Singapore's unique position as a premier financial and business location in the region."
MM:
This starts another, independent of New York and London, Great Exchange (big will they still
) in Asia. main trading currency is USD.
Switching to Yuan at all times, whenever Beijing considers it appropriate, will be possible.
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