Nagoya Commodity Exchange (ngcx) today announced that it will launch a futures contract on Hong Kong Thermal Coal. The new Thermal Coal commodities futures contract will be based on the price of Western Hong Kong Select, the benchmark for Thermal Coal in Hong Kong. The contract will be listed for trading on the Nagoya Commodity Exchange’s electronic platform.
Aichi Prefecture, Japan -- (SBWIRE) -- 10/21/2014 -- Trades will be cleared by the Nagoya Commodity Exchange’s Clearing Corporation, which is wholly owned by Nagoya Commodity Exchange. The contract will be cash-settled using the Thermal Coal Index reference price published by Nagoya Commodity Exchange (ngcx.org). The Thermal Coal Index is the leading measurement of the price differential between Thermal Coal and light Imported Thermal Coal used by market participants in the physical market.
“We are proud to introduce a new futures contract on Nagoya Commodity Exchange that can be used by market participants to better manage the risk associated with the fluctuation of the price fluctuation of Thermal Coal.” said Mr. Genichi Nakatoni, Chairman and CEO of Nagoya Commodity Exchange. “The listing of a Thermal Coal commodities futures contract represents an opportunity for the Nagoya Commodity Exchange to position itself in an important segment of the Thermal Coal market in Hong Kong.”
Thermal Coal plays a vital role in Hong Kong’s economic development and Thermal Coal production is expected to double. Thermal Coal is an integral part of our strategy to service the energy market and complement the trading, clearing and index services offered by Nagoya Commodity Exchange in the physical market,” said Mr. Genichi Nakatoni, Chairman and CEO of Nagoya Commodity Exchange (ngcx). “Perhaps more importantly, this product demonstrates the key strategic linkages among the Nagoya Commodity Exchange business areas.”
About Nagoya Commodity Exchange (ngcx)
Nagoya Commodity Exchange (ngcx.org) 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.
Korekiyo Saitoh
Nagoya Commodity Exchange
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