June 2010, Issue 33 

 

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In this month's issue:-


 

SMX - ANNOUNCES GOLD AS FIRST FUTURES CONTRACT


The Singapore Mercantile Exchange (SMX), announced on 21 May 2010,  that it will launch Singapore's first Gold futures contract.  This will be the Exchange's first product, which will be physically settled, when it goes live in August 2010.

The futures contract will be traded every working day from 0900hrs - 2200hrs Singapore time, in units of 32 troy ounces per unit for the months of February, April, June, August, October and December.  The delivery unit is 1 kilo bar of minimum 995 fineness.  Physical delivery will take place at vaulting facilities in Singapore, including the new facility operated by JP Morgan in Singapore's first 24 hour free trade zone.  Refiners and vaults will be subject to SMX standards and approvals.

For more information, please go to:-  

http://www.smx.com.sg

SHFE - APPROVES TWO INTERNATIONAL COPPER BRANDS FOR REGISTRATION

On 27 May 2010, The Shanghai Futures Exchange published Members' Notices approving the following international copper brands which had undergone SHFE's full registration listing procedures:-

  • Corporación Nacional del Cobre de Chile (CODELCO), Brand:- cCcP
  • Philippine Associated Smelting and Refining Corporation (PASAR), Brand: PSR ISABEL


For further information, please go to:

www.shfe.com.cn/Ehome/docview.jsp?docid=4278700

www.shfe.com.cn/Ehome/docview.jsp?docid=4275739

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BALTIC EXCHANGE - OUTLINES DRY FFA SCREEN TRADING PLANS


The Baltic Exchange announced on 19 May 2010 that it has applied to the UK's Financial Services Authority (FSA)  for Multilateral Trading Facility (MTF) status for BaltEx.   BaltEx is a central screen based trading solution for the dry Forward Freight Agreement (FFA) market which will be run by a new subsidiary, Baltic Exchange Derivatives Ltd. 

BaltEx is based on technology developed by Elysian Systems.  It is anticipated that BaltEx will be launched before the end of the year.

For more information, please go to:-

www.balticexchange.com


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NSEL - EXCHANGE OFFERS RETAIL SILVER CONTRACT

The National Spot Exchange, an Indian electronic exchange promoted jointly by Financial Technologies and National Agricultural Co-operative Marketing Federation, launched on 21 April 2010 a new investment instrument, E-Silver.   This is the second in the e-series products designed to promote savings and investment to the retail market.  Its first e-series product was E-Gold which was launched on 17 March 2010. 


The new E-Silver contract will be backed by physical delivery.  The metal will be stored in exchange-designated vaults and will be tradeable on the NSEL platform.  Investors will be required to open dematerialised (demat) accounts with any depository participant (DP) registered with the Exchange to participate in the Contract. The contracts are sized at 100 grams and multiples thereof.   

The Exchange is planning to launch around 25 commodities under the E-Series basket for promoting savings and investment in commodities.

For more information on the E-Series, please go to:-

www.nationalspotexchange.com

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AQSIQ - NEW ISO 9001 RULE  REQUIRED FOR SCRAP METAL EXPORTERS TO CHINA


The General Administration of Quality, Supervision, Inspection and Quarantine (AQSIQ), China, has confirmed that overseas suppliers applying for AQSIQ certification in order to import scrap, will need to hold ISO 9001 (Quality Management System) certification.  As an alternative, having a recognised national quality management system such as Recycling Industry Operation Standard (RIOS)),  with written operating guidelines will suffice.

Please refer to AQSIQ Announcement No. 98 (2009).

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CYANIDE MINING TECHNOLOGIES IN THE EU  - MEPs PROPOSE BAN TO EU PARLIAMENT

Ministers of the European Parliament want the EU Commission to propose a complete ban on the use of cyanide mining technologies in the European Union before the end of 2011.  They also believe companies dealing with the management of waste from the extractive industries should be forced to take out insurance to cover costs in the event of an accident and that mining projects in the EU involving cyanide technology should receive no support from the Commission or Member States.

On Wednesday 5 May 2010, a resolution was adopted by 488 votes to 48 with 57 abstentions that a complete ban "is the only safe way to protect our water resources and ecosystems against cyanide pollution from mining activities" and calls on the Commission and the Member States "not to support, either directly or indirectly, any mining projects in the EU that involve cyanide technology until the general ban is applicable, nor to support any such projects in third countries. 

To review the press release, please go to:-

www.europarl.europa.eu

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METAL REGISTRATION LTD is the leading independent provider of brand registration services to metal producers wishing to list their metal production on:

  • The CME Group - NYMEX - COMEX
     
  • The Dubai Gold and Commodities Exchange - DGCX 
     
  • The London Bullion Market Association - LBMA 
     
  • The London Metal Exchange - LME  
     
  • The Shanghai Futures Exchange - SHFE 
     
  • The Tokyo Commodity Exchange - TOCOM
Our Brand Registration Service ensures your brand application dossier meets the rules and procedures of the chosen Exchange or Market.  We project manage your brand application throughout the entire listing process enabling you to keep focus on your other important business activities.
 
 

 

Metal Registration Ltd, 180 Piccadilly, London,  United Kingdom, W1J 9HF.

To Contact Us please email: info@metalreg.com

Tel: + 44 (0)20 7917 2740

Fax: + 44 (0)20 7917 1740

www.metalreg.com

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