SMX trading volumes soared USD134b

Guess how many contracts were traded since its launch 2 years ago.

In a release, Singapore Mercantile Exchange (SMX) today announced that the cumulative volumes since launch were propelled from 63 billion USD a year ago to 134 billion USD by the end of 2012. The Exchange which added two of its more successful products to its suite of offerings, the world's first Black Pepper futures and the E-Gold futures (based on the Indian gold prices) in 2012 has seen an annual turnover of over 71billion USD in 2012. 

"With over 4 million contracts traded on the Exchange since its launch in August 2010, the end of 2012 saw a cumulative turnover of over 134 billion USD since SMX went live."

Here’s more:

During the year 2012, the average daily volumes have been over 8,200 contracts, with a peak volume of 30,075 contracts. On the products front, the newly launched contacts have been consistently gaining momentum. The Exchange has seen 5 successful delivery cycles of Black pepper with over 150 MT of the Exchange specified grade of Black pepper delivered Ex-Approved bonded warehouse in Vietnam.

The E-Gold futures contract which was launched in June 2012 has seen a gradual but sustained increase in trading with interest in the product increasing over the past few months. Anchor products at the Exchange such as the EUR-USD currency futures, the Copper futures and the world‟s first Iron ore futures based on the Metal Bulletin Iron Ore Index have continued to gain momentum as well. The Exchange also introduced spread contracts with the first set based on the Copper contract.