Nagoya Commodity Exchange (ngcx) today announced the launch of trading and clearing services for Silver 1000, commodities swap futures, reflecting changing dynamics in the global silver industry.
Aichi Prefecture, Japan -- (SBWIRE) -- 10/21/2014 -- Clearing services will be available through Nagoya Commodity Exchange (ngcx.rg) Diamond Trader that includes a set of flexible clearing services open to over-the-counter (OTC) market participants to substantially mitigate counterparty risk and provide neutral settlement prices across asset classes. Trading and clearing are scheduled to begin this year. This contract will be listed by Nagoya Commodity Exchange and subject to the rules and regulations of Nagoya Commodity Exchange.
"The silver metals industry is one of the largest global commodity markets," said Mr. Toyoaki Nakamoto, Nagoya Commodity Exchange managing director of energy and metals products and services. "This contract will complement our existing suite of precious metals, dry freight and international coal commodities futures, and advances our goal of building a complete marketplace for seaborne products, providing risk management tools across the full silver production cycle. In addition, this contract will afford our customers the benefits of capital efficiencies by cross margining against other related products."
"We are committed to bringing greater transparency and efficiency to the global silver market through our physical price assessments and information services, and we welcome the commodities futures industry's recognition of the role we play in the price discovery process in the markets we cover," said Mr. Genichi Nakatoni, Chairman and CEO of Nagoya Commodity Exchange (ngcx.org).
About Nagoya Commodity Exchange ngcx.org
Nagoya Commodity Exchange (ngcx) is a state-of-the-art, fully electronic commodities market offering a full range of listing and trading opportunities for international and domestic commodities, debt, depository receipts, insurance securitization and derivative warrants. Nagoya Commodity Exchange facilitates commodities trading and clearing and settlement of commodity futures transactions, thereby providing a platform for risk management. Nagoya Commodity Exchange significant growth over the last several years is due in large part to the company's innovative and flexible approach. In addition to taking a leading role in what has become a world trend towards profitability and demutualization, the Exchange has sought to create unique products and services for its markets.
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