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Thomas McMahon and Jignesh Shah (first and second left) of the Singapore Mercantile Exchange with Ong Chong Tee of the Monetary Authority of Singapore at the SMX’s inauguration |
Singapore Mercantile Exchange, billed as the first pan-Asian multi-product commodity and currency derivatives exchange, rang its opening bell on August 31. The next question: will people use it?
Chief executive Thomas McMahon describes the rationale as so obvious "it was like a light switch flicking on". Asia is the new home of world commodities demand and Singapore the natural hub to trade it: its Jurong Island is one of the world’s densest oil-refining areas, and its port one of the busiest. SMX has kicked off with four futures contracts: gold,...
