Simex 'Rolling Spot' Contracts Win Backing From 13 Leading FX Banks
EXCHANGES
The Singapore International Monetary Exchange (Simex) has announced a launch date for two new contracts that have much in common with the Chicago Mercantile Exchange's (CME) 'rolling spot' currency contracts (FX Week, July 5). Unlike the CME, however, Simex has already signed on 13 foreign exchange banks to make markets for the new contracts, officials say.
The committed banks include nine foreign players with a strong presence in Far East markets: Bank of America, Bankers Trust, Banque Nationale
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