Stocks and Financial Services Press Releases Wednesday February 23, 2011 Bangkok--23 Feb--SET
The Thailand Futures Exchange Plc (TFEX), part of The Stock Exchange of Thailand, will begin trading silver futures and extend trading hours for gold and silver futures until 22:30 hours, both starting in June 2011.
Silver has been gaining popularity among investors due to its upward price tendency and its relationship with gold prices, TFEX Managing Director Kesara Manchusree reported. Investors in gold can employ similar trading strategies for both precious metals. Moreover, they see more opportunities in silver because of its comparatively low price and high volatility.
TFEX’ specification for trading silver futures are similar to those for 10-baht weight gold futures. This means the silver futures’ contract size is set at 100 troy ounces (approx. 3.1 kgs.), which are worth around THB90,000 (approx. USD3,000). Silver will be quoted in Thai baht (THB) per troy ounce, and its underlying price will be based on 99.9% pure silver. Final settlement will be in cash when the contract expires, instead of physical delivery. Final settlement prices for silver will use information from the same source as when gold futures are settled, i.e., London Bullion Market Association ( LBMA)......read on
No comments:
Post a Comment