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E-mailLondon, 13 October 2010
As announced by the London Metal Exchange, new LME mini contracts are expected to be launched in cooperation with the Singapore Exchange ( SGX).
The current exchange plan is to launch the new contract in the first quarter of 2011, subject to approval by both parties and regulators. The new cash-settled monthly metals futures contracts will be cleared through the SGX owned and operated AsiaClear using the LME’s established global reference prices.FFastFill’s Software as a Service (SaaS) deployment model allows for fast uptake by both new and existing users throughout the globe. This means that clients and exchanges can switch on to trading new contracts within 24 hours or less subject to routine member approval procedures.
FFastFill is pleased to announce it is ready for the launch of this new contract. Hamish Purdey, CEO, FFastFill, commented: “We are extremely pleased to announce our full support for the new mini contract. FFastFill’s exceptionally fast Software as a Service delivery means the exchange and our customers can start trading these on Day One. As the LME begins to increase its Asian footprint, we are pleased to be the provider which fully backs this move and we are in no doubt, given our strong Asian network of clients for the LME and other exchanges, that this new contract initiative will increase liquidity and diversity in these markets.”
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Software as a Service is a method of centrally hosting both exchange data and trading and risk management functionality and delivering that to clients over the web. This allows for very fast new product/service implementation from a central point or hubs, as opposed to individual upgrades and installations at a large number of separate sites. The ability to trade LME/SGX minis instantly will therefore be available to all of the LME’s FFastFill clients.
