Singapore is part of a regional push to set an alternative to the Western price
The Singapore Exchange (SGX) plans to launch its first gold
contract in the hope of competing with other Asian exchanges to
offer an alternative to the Western gold benchmark.
The physically-delivered contract will be the
world’s first wholesale 25 kilobar gold futures
contract, with trading and central clearing expected to go live
as early as September this year.
"The global gold market continues to shift from west to east
and Singapore’s ambitions to become a gold hub
reflect this trend," said Albert Cheng, Far East managing
director, World Gold Council.
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