|
February 2009, Issue 17
|
Welcome to February's newsletter. In this month's issue:-
|
|
· TOCOM - Demutualises Exchange
· SHFE - Approves International Copper Brand For Registration
· EUREX - To Launch Gold Futures and Options Contracts
· BOURSE AFRICA - New Exchange To Be Launched 2009
· VIETNAM - New Electronic Steel Exchange Planned
· GHS COMPLIANCE - What is it all about?
|
TOCOM - DEMUTUALISES EXCHANGE
The Tokyo Commodity Exchange has become the first for-profit commodity exchange in Japan. It changed its status on 1 December 2008 from a membership organisation to a stock company. In response to the intensified competition among exchanges globally, TOCOM decided to demutualise to further increase its operational efficiency, the speed of its decision-making process, along with having the ability to raise funds flexibly.
|
SHFE - APPROVES INTERNATIONAL COPPER BRAND FOR REGISTRATION
On 6 January 2009, The Shanghai Futures Exchange (SHFE) published a Members Notice approving Freeport-McMoRan Copper & Gold's P*D Copper Cathode (Cu-Cath-1) brand as a re-registered brand under the SHFE's Copper Contract.
This follows from SHFE's directive, issued 20 April 2007, requiring all its international aluminium and copper producers to re-register their production on the Exchange by 20 March 2009.
For more information, please go to:-
|
EUREX - TO LAUNCH GOLD FUTURES AND OPTIONS CONTRACTS
From 2 February 2009, Eurex, the international derivatives exchange, will launch Gold Futures and Options Contracts. The contracts will be denominated in US Dollars, cash-settled and reflect a value of 100 troy ounces. The price will be based on the benchmark gold fixing of the London Bullion Market, provided by The London Gold Market Fixing Ltd.
|
BOURSE AFRICA - NEW EXCHANGE TO BE LAUNCHED IN 2009
Financial Technologies India Ltd (FTIL) group, in December 2008, finalised an agreement to purchase a 60% stake in Bourse Africa Limited. Bourse Africa Limited has been licensed by The Government of Botswana to set-up a Spot and/or Derivative Multi-Asset exchange.
The Exchange has been named Bourse Africa and will be based in Gaborone. It will offer a basket of products:- precious and base metals, energy products, agricultural commodities and minerals.
For further information, please go to:-
|
VIETNAM - TO ESTABLISH ELECTRONIC STEEL EXCHANGE
The Vietnam Steel Corporation (VNSteel) announced that it is planning to establish, during 2009, an electronic steel exchange. This is in order to strengthen the capacity of its distribution systems.
The steel exchange is expected to act as an open information source, providing simple and economical means for both buyers and sellers to exchange products electronically, through the internet and via the telephone.
|
GHS COMPLIANCE - WHAT IS IT ALL ABOUT?
The new "Classification, Labelling and Packaging (CLP) Regulation (EC) No. 1272/2008", published on 31 December 2008 aligns EU legislation on classification, labelling and packaging of substances and mixtures with the United Nations Globally Harmonised System (GHS). The CLP Regulation complements and amends in part the REACH Regulation (EC) 1907/2006.
CLP will require the reclassification of all substances manufactured in or imported into the EU by 1 December 2010 and of mixtures (preparations) by 1 June 2015.
The aim of the GHS system is to ensure that the same hazards will be described and labelled in the same way all around the world. By using internationally agreed classification criteria and labelling elements, it is expected to facilitate trade and to contribute towards global efforts to protect humans and the environment from the hazardous effects of chemicals.
For more information, please go to:-
|
|
