Singapore's SMX to trade WTI crude oil futures

SMX, Asia's newest commodity exchange, reveals the second contract it will trade on its platform when it opens for business in August.

Asia's newest commodity exchange, the Singapore Mercantile Exchange SMX, yesterday said it will start trading the benchmark West Texas Intermediate WTI light sweet crude oil futures contract on its electronic trading platform when it goes live in August. This means the exchange has now identified two contracts that will be available from day one.

An average of 600,000 futures contracts on WTI are traded every day around the world, equivalent to about 600 million barrels of oil.

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