China's Zhengzhou Commodity Exchange gets Singapore market operator licence

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

[SHANGHAI] China's Zhengzhou Commodity Exchange said on Wednesday it has been approved as a recognised market operator (RMO) in Singapore, paving the way to attract more foreign investors to its purified terephthalic acid (PTA) futures contract. Read more at The Business Times.

[SHANGHAI] China's Zhengzhou Commodity Exchange said on Wednesday it has been approved as a recognised market operator in Singapore, paving the way to attract more foreign investors to its purified terephthalic acid futures contract.

The approval by the Monetary Authority of Singapore will also allow foreign investors to trade certain futures products on the Chinese bourse through Singapore brokerages, the exchange said. PTA, a petrochemical derivative, is an essential raw material for making polyesters extensively used in producing textiles, packaging and film products.

The MAS issues RMO licences to companies that wish to operate an organised market or a place to exchange, sell or purchase derivatives contracts or securities. The Zhengzhou exchange has allowed foreigners to directly trade in its PTA futures contract since late 2018 and more recently launched PTA options trading in December 2019.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Check it out! Do You Want To Make 5 stunning animated logo intro videos in $5? Please Contact Me : LogoAnimation MadeOnFiverr Top Logo Animation Best Logo Animation

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines