SGX proposes changes to global benchmark SICOM rubber contracts
Singapore Exchange (SGX) is celebrating 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 centre for the natural rubber trade.
In these two 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 per cent 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,” says 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.
- By Category
- News from other sites
- Special Reports
- By Location
- Asian Hedge Funds
- BVI Hedge Fund Services
- Bermuda Hedge Fund Services
- Canada Hedge Fund Services
- Cayman Hedge Fund Services
- Channel Islands Stock Exchange
- Future of offshore funds
- Gibraltar Hedge Fund Services
- Guernsey Hedge Fund Services
- Hedge Funds in Germany
- Hong Kong Hedge Fund Services
- Ireland Hedge Fund Services
- Isle of Man Hedge Fund Services
- Jersey Hedge Fund Services
- Jersey Private Equity Services
- Latin American Hedge Funds
- London Hedge Fund Services
- Luxembourg Hedge Fund Services
- Luxembourg Private Equity Services
- Malta Hedge Fund Services
- Middle East Hedge Fund Services
- Singapore Hedge Fund Services
- South African Hedge Fund Services
- Spanish Hedge Funds 2008
- Switzerland Hedge Funds
- US East Coast Hedge Fund Services
- US Hedge Fund Services
- By Subject
Latest Special Report
- By Location