Singapore Mercantile Exchange

 Singapore Mercantile Exchange Pte Ltd, Singapore

1 Temasek Avenue #23-02 Millenia Tower
Singapore 039192
Tel:    +65 6590 3700  
Fax: +65 6532 2773
Web address: www.smx.com.sg
Email contact: info{.}smx.com.sg

Established: November 2006

Type: Electronic trading

Contracts: -

The following contracts will be traded when the Exchange goes live:

- SMX will offer a basket of commodity derivatives for trading, including agricultural, base and precious metals, oil and energy, currency futures carbon credits.

MEMBERSHIP STRUCTURE:

Clearing membership

General Clearing Member (GCM)

i) A GCM can clear and settle its own trades, as well those of its customers, including any other GCM, Broker Member, Remote Member, or Trade Member.

ii) A GCM can be a Singapore licensed bank or a non bank.

Special Clearing Member (SCM)

i) An SCM is not a trading member of SMX, as it cannot execute trades, but only clears and settles trades for Non-Clearing Members (Broker Members, Remote Members, and Trade Members).

Non-Clearing Membership

Broker Member (BM)

i) A BM has to be a corporation, as defined under the Singapore Company’s Act.

ii) A BM can trade for itself or on behalf of its customers.

Trade Member (TM)

i) Any individual, partnership, or corporation can apply to be a TM.

ii) A TM is entitled to trade only for itself, and can be a resident of either Singapore or elsewhere.

Remote Member (RM)

i) An RM has to be a corporation established outside of Singapore, or an individual or partnership not resident in Singapore. 

ii) An RM cannot have a place of business in Singapore.  

iii) An RM’s customers must be based outside of Singapore. 

iv) An RM may trade for its own account and those of customers.

SINGAPORE MERCANTILE EXCHANGE CLEARING CORPORATION:

Singapore Mercantile Exchange Clearing Corporation (SMXCC) performs the role of the clearing house of SMX and handles clearing, settlement and risk management. SMXCC is the central counterparty for trades executed on the SMX trading platform.

To protect market participants from any counterparty credit risk, SMXCC has a Settlement Guarantee Fund. Non-performance by any of the parties does not affect the other party, as SMXCC steps in and fulfils the obligations of the defaulting party through the Settlement Guarantee Fund.

SMX MANAGEMENT:

1) Ang Swee Tian – Chairman

Mr. Ang Swee Tian was President of the Singapore Exchange from 1999 to 2005 and Senior Advisor to SGX from 2005 to 2007. Mr. Ang was the first official from an Asian Exchange to be inducted into the Futures Industry Association (FIA), Futures Hall of Fame, which was established to recognise and honour outstanding individuals for their contribution to the futures and options industry.

2) Jignesh Shah – Vice Chairman

Mr. Jignesh Shah is the founder Chairman and CEO of Financial Technologies (India) group. Mr. Shah is often credited as the ‘innovator of modern financial markets’ through successful public-private partnership (PPP) model for building world-class financial institutions in emerging economies. He is also the founder of MCX (Multi Commodity Exchange of India), DGCX (Dubai Gold & Commodities Exchange), (GBOT (Global Board of Trade, Mauritius), IEX (Indian Energy Exchange), MCX Stock Exchange (MCX-SX), Bahrain Financial Exchange (BFX) and Singapore Mercantile Exchange (SMX) among other leading global financial exchanges

3) Framroze Pochara – Executive Director

Mr. Framroze Pochara is a capital markets expert with over 20 years’ experience. Prior to SMX, Mr. Pochara was the CEO of Dubai Gold & Commodities Exchange (DGCX). He was instrumental in getting DGCX operational within six months, which attracted remendous market interest from the Middle East, India and the West. Previously, he was Vice President, Operations at National Stock Exchange of India (NSE), where he managed strategic functions including clearing and settlement, membership, listing, and investor grievance.

4) Linus Koh – President & COO

Mr. Linus Koh has over 25 years’ experience in international capital markets, specialising in investment banking, securities and derivatives. Prior to joining SMX, he was the Managing Director of Nutmeg Solutions Pte Ltd, a vehicle for Asian private equity investment. Previously, Mr. Koh was the Chief Financial Officer & Head of Strategy of Singapore Exchange. He held key positions in leading financial institutions, including Citibank, UBS, State Street Bank & Trust Co, and Deutsche Bank.

5) Spencer Campbell - Senior Vice President, Business Development & Marketing

NEWS:

Log on to www.smx.com.sg for latest updates