Vaidyalingam Hariharan, the interim CEO of Singapore Mercantile Exchange (SMX), announced on June 29 that SMX is planning to launch iron ore and coal futures contracts in the last quarter of the current year.
Regarding the iron ore futures contract transactions, SMX is expected to introduce cash payment. The deals will based on the iron ore price index provided by Metal Bulletin.
Mr. Hariharan added that SMX is also considering the introduction of an international futures contract for black pepper in the third quarter, which would be the 10th item traded on the exchange.