Singapore Exchange (SGX) celebrates the 20th Anniversary of its global benchmark SICOM Rubber Futures this year, on the back of multiple records achieved in 2013. From production to trading, rubber had its roots firmly planted within Singapore from the early half of the 1900s. In 1994, the Singapore Commodity Exchange (“SICOM”) was formed to assume the role of the Rubber Association of Singapore, which was the price discovery center for the natural rubber trade. In these 2 decades, the SICOM Rubber Futures contracts served the trading and hedging needs of physical market participants. Trading interest in the SGX SICOM Rubber Futures contracts continue to rise with a record 1.73 million tonnes of rubber traded in 2013, a 35% rise from the previous year. “The physical rubber market relies on the SICOM futures prices as a benchmark to determine physical rubber pricing. International Traders & Producers and Major Rubber Products & Tyre makers have been using SICOM’s TSR20 and RSS3 rubber prices as their main point of reference for their physical rubber transaction. We are happy to see that SGX has been committed in maintaining the status of the SICOM benchmark rubber prices, with continual volume growth and market development initiatives”, said Sakoda Tsunehisa, President of Bridgestone Singapore. In tandem with changing market practices and addressing customers’ needs, SGX is proposing to amend the contract specifications of the SGX SICOM Rubber contracts. The proposed changes are to clarify certain operational aspects of the physical delivery process, and are based on feedback from active rubber market participants. The consultation paper will be available on the SGX website www.sgx.com from today. Market participants and members of the public can send in their comments and suggestions from today until 18 February 2014 either via email, post/courier or fax to:
For further information on the SGX SICOM Rubber Futures Contracts, please visit www.sgx.com/rubber or contact:
Patrick Yeo at patrick.yeo@sgx.com or tel: (65) 6236 5371 Derek Neo at derek.neo@sgx.com or tel: (65) 6236 8317 |
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FTSE Mondo Visione Exchanges Index:
SGX Proposes Changes To Its Global Benchmark SICOM Rubber Contracts
Date 29/01/2014