ICDX set to launch tin futures
Friday, October 6 2017 - 02:29 AM WIB
Petromindo
The Indonesia Commodity and Derivatives Exchange (ICDX) plans to introduce a tin futures in January of next year as part of new products to be launched by the bourse next year, Bisnis Indonesia reported on Friday.
The paper said that the ICDX plans to also launch WTI (West Texas Intermediate crude oil futures and gold futures, but in the near term the focus will be on the tin futures.
?We expect the tin futures to be introduced in January 2018 or February,? said ICDX President Director, Lamon Rutten.
He said that the tin futures will help Indonesia to become price setter of tin price in the global market. While the country is the world?s top export of tin, the price has been determined by the London Metal Exchange.
The ICDX since August 2013 has opened up tin transaction in the form of physical product, which has been participated by a limited number of traders. The tin futures is expected to attract large crowd of retail investors. (*)