SGX records early success in coking coal contract (Amended)

Singapore

THE Singapore Exchange (SGX), in its push for market acceptance of products adjacent to its successful iron-ore derivatives, is seeing some initial traction.

Trading volumes of its derivative contracts for coking coal - another ingredient for steel-making, aside from iron ore - have surged this year on the back of extreme price volatility.

The bourse is also working to realise the synergies it had outlined with its recent acquisition of the Baltic Exchange.

However, some industry players caution that it may be too early to declare it a success.

Prices of coking coal have been volatile …