We are enjoyed reveal that we have actually obtained a permit to distribute market data for SGX commodities!
Origins of product trading in Singapore
Singapore is an international economic center, probably the most important one in Asia adhering to the decline of Hong Kong in the last few years. It is also a vital asset center. Actually, it was the money from rubber trade that financed the facility of neighborhood banks.
Singapore gain from its setting in the Malacca strait A significant quantity of completed goods pass through this strait, going from China to Europe and India. In the opposite direction, there is a circulation of raw materials such as crude oil and LNG from the Middle East, and steels or farming commodities from Africa. This makes Singapore moiraied to house a worldwide essential commodity exchange.
The background starts in 1911 with the facility of the Rubber Association of Singapore (RAS) It played a critical duty in the trading of rubber, which was one of the essential products in Singapore’s trading history. The RAS facilitated the trading of rubber futures, supplying an organized market for customers and vendors to hedge against price variations in the rubber market. This institution was important to the growth of Singapore as a significant hub for product trading in the region, especially while when rubber was one of the primary exports of Malaysia and Indonesia, the nearby countries of Singapore.
Another landmark can be found in 1992 when the Singapore Commodity Exchange (SICOM) was successful RAS as an essential platform for product trading. Unlike the RAS, which was focused on rubber, the SICOM exchange marked an expansion into a broader mix of assets This was no coincidence as the 90 s was the period when China started its surge as a major financial power. Chinese large investments in the under-developed infrastructure fueled a product boom. This equated into strong need for rate exploration and risk monitoring for asset manufacturers and traders. And SICOM was flawlessly placed to satisfy this need.
Ultimately in 2008, SICOM was fully acquired and integrated right into the Singapore Exchange Group (SGX) These 2 exchanges at first existed individually, with SGX being founded in 1999 While SICOM was mainly a commodity exchange, SGX was focused on stocks, bonds, equity indices and their by-products. The merger of these two exchanges produced an even stronger entity with international reach, cementing Singapore’s status as top worldwide economic facility.
SGX information in the app
We have added data for these SGX assets to the application :
- SGX SICOM TSR 20 Rubber
- SGX SICOM RSS 3 Rubber
- SGX TSI Iron Ore CFR China (62 % Fe Fines)
They are one of the most liquid contracts, supplying the best trading chances. We will present them in 2 follow-up write-ups , giving useful pointers on how to utilize these markets for the greatest benefit.