Press Trust of India / Singapore Jun 25, 2010, 12:02 IST
Singapore Mercantile Exchange (SMX) today announced the appointment of London-listed FFastFill plc to provide connectivity to the bourse when it goes live in August (2010).
FFastFill has completed conformance testing, which ensures that the system meets a defined set of standards, and would offer full connectivity to the SMX portal, said SMX backed by Financial Technologies (India) Limited, which operates 10 exchanges in India.
The application services provider for trading and risk management on electronic markets would offer SMX access to existing and new customers from commencement of the SMX market operations, said FFastFill CEO Hamish Purdey.
SMX has received in-principle approval from the regulator Monetary Authority of Singapore to operate Singapore's first Asian multi-product commodity derivatives exchange.
SMX starts trading in August with first phase of products including gold futures contract with physical delivery in high-security vaults in Singapore, West Texas Intermediate (WTI) Crude Oil and Brent-Euro Crude Oil amongst others.It is expected to announce the launch of more products in the coming months.
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