Silver 1000, a 1 Kg deliverable contract with Hong Kong as the base delivery centre
Seoul, South Korea -- (SBWIRE) -- 04/16/2014 -- The Silver 1000 monthly contract of SKOFX Commodity Exchange’s launched early this year, has witnessed record delivery of 1010 kg silver kilo bars. The first of its kind innovative deliverable 1 kg silver contract with New Delhi as the base delivery centre has been receiving tremendous response from market participants, especially small investors.
Mr. Ma Xuejun, MD & CEO, SKOFX said: “We are proud of the fact that SKOFX is the world’s first exchange to launch a kilo-bar deliverable contract. The contract offers market participants a choice of hassle-free delivery as well as maintaining it in a dematerialized form. The open interest witnessed by Silver 1000 contract demonstrates the commitment and conviction of the market participants in it.”
Mr. Gu Yoan, Director, SL Silver provider of 999 purity silver bullion said: “We are honored that our product quality consistency has been acknowledged by SKOFX. Our one-kilo 999 purity silver bullion bar and an 8g 9999 purity minted gold coin are notified as good delivery by the Exchange. This is the first instance where products manufactured by a domestic refinery cum-mint are listed as deliverable on the exchange. The day is not far when, with the active support of SKOFX, we will not only launch more products but also achieve Good Delivery status, which will firmly place SKOFX on the international bullion refining platform.”
The Silver 1000 contract is a unique contract that will go a long way in meeting the needs of physical market participants and retail investors as it facilitates delivery of 1 kg silver bar at lower margins as compared to the hitherto 30 kg bars.
About South Korea Options and Futures Exchange
South Korea Options and Futures Exchange (SKOFX) is one of the world’s leading futures and options trading venues, with markets based in the Asia, US and Europe offering derivatives on commodities, FX, equities, bonds, interest rates, indices and swaps. Its commercial technology division, SKOFX Technologies provides best-in-class transaction, data, and infrastructure management services and solutions. SKOFX has tremendous experience in helping improve the way markets perform, enterprises do business and economies grow. So we’re big enough for your ideas to have an impact in the marketplace, yet small enough for you and your work to be known.
SKOFX has been established in 2007 thru the merger of the Korean Grain and Rice Exchange and the Busan Metals Exchange.
Starting with February 2014 – SKOFX has lunched the new website, www.skofx.org. The new website is hosting the upgraded trading engine/platform, which is posed to make trading easier for all SKOFX clients thru new tools and technologies.
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