SICOM, MOU to enhance rubber trading

ERJ staff report (RD)

Singapore/China - Singapore Commodity Exchange Limited (SICOM) and Sino Rubber Electronic Trading Market Co., Ltd (Sino Rubber) of China has signed a Memorandum of Understanding (MOU) to grow their natural rubber markets, a 22 Sep joint press release has said.

The MOU, which includes information sharing and joint development of the settlement process for rubber contracts - subject to relevant regulatory approvals, was witnessed by Wang Yi Xin, chairman of China Hainan Rubber Industry Group (parent company of Sino Rubber) and J Y Pillay, chairman of Singapore Exchange (SICOM's parent company).

“We are pleased to co-operate with Sino Rubber, the largest professional market for natural rubber trading in China,” said SICOM ceo, Jeremy Ang. “This partnership will reinforce SICOM's status as the exchange which sets the pricing benchmark for physical rubber,” Ang added.

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Press release from SICOM.Sino Rubber