Vanishing gold trade prompts Singapore to refine contract


By Ranjeetha Pakiam
Bloomberg News
Sunday, December 6, 2015

Just over a year ago, Singapore Exchange Ltd. started gold trading to help bolster the country's role as a bullion hub in Asia, the world's largest consuming region. Transactions slumped to zero in November and the bourse is now trying to revitalize the market.

"Volumes haven't been spectacular," William Chin, vice president of commodities at the exchange, said in an interview. "One of the key reasons is the contract specification itself, and this is quite normal across different products. You don't always get it right the first time round."

Singapore isn't alone in trying to solidify its position as a trading hub for commodities from oil to iron ore and rubber. Shanghai offered bullion contracts in the free-trade zone last year and CME Group Inc. started futures with physical delivery in Hong Kong in January as they seek to tap rising demand from China, the top producer and consumer. Singapore's contract is intended to appeal to industrial users rather than retail investors. ...

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