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Singapore Exchange in early talks for regional rubber bourse: sources (12-03-2015)

 

Singapore Exchange in early talks for regional rubber bourse: sources  

A farmer pouring raw latex into moulds at a plantation in Thailand. The Singapore Exchange is in preliminary talks to be part of a South-east Asian rubber exchange that would bring together the top three producing nations, Thailand, Indonesia and Malaysia, which together produce 70 per cent of the world`s rubber. -- PHOTO: BLOOMBERG 

 

SINGAPORE (Reuters) - The Singapore Exchange (SGX) is in preliminary talks to be part of a South-east Asian rubber exchange that would bring together the top three producing nations, industry sources said on Tuesday.

SGX held a meeting late last month with the International Tripartite Rubber Council (ITRC), an industry body comprising Thailand, Indonesia and Malaysia, which together produce 70 per cent of the world`s rubber.

The meeting came three months after ITRC said it was studying a plan to set up a regional exchange to facilitate hedging and easy trade for the different rubber grades, amid a tumble in prices of the commodity to five-year lows.

SGX said in an e-mailed statement on Wednesday that it was "happy and ready to work with ITRC to establish a regional rubber market. "We understand that studies and consultations are still ongoing within... an expert group of the ITRC, so any cooperation model will have to be considered after that," said Lily Chia, head of SGX`s commodities product development and management.

- See more at: http://www.straitstimes.com/news/business/markets/story/singapore-exchange-early-talks-regional-rubber-bourse-sources-20150311#sthash.wgkz6HbP.dpuf

http://www.straitstimes.com/news/business/markets/story/singapore-exchange-early-talks-regional-rubber-bourse-sources-20150311

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