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Home Steel News SMX launches futures contract for iron ore
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SMX launches futures contract for iron ore

12 Aug 2011 13:58 reported by WilliamYuan

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Mr. Vaidyalingam Hariharan, the interim CEO of Singapore Mercantile Exchange (SMX) said SMX was going to launch the futures contract for iron ore, following India to become the second exchange which issues futures contract for iron ore.

The futures contract for iron ore will be calculated by the US dollar and it will be opened to the global investors. Also, it would be settled based on the Metal Bulletin Iron Ore (MBIO) Index, said SMX.

Mr. Hariharan said that the futures contract based on the unique contract design of smaller trading unit can effectively reduce the risk and help the players of all sizes across the supply and value chain of iron ore participate in the SMX MBIO Index.

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