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London Metal Exchange Joins Singapore Bullion Market Association
12 July 2017
SINGAPORE: 12 JULY 2017 – The London Metal Exchange (LME) has joined Singapore Bullion Market Association (SBMA) as a Foreign Associate Corporate Member.
The LME is the futures exchange with the world’s largest market in options and futures contracts on base and other metals.
Alex Shaw, Head of Market Development – Precious Metals of the LME said “We are very pleased to be welcomed into the SBMA and look forward to developing stronger ties with the ASEAN precious metals community.”
Albert Cheng, CEO of SBMA said “I hope we can bring LMEprecious’ suite of exchange-traded loco London precious metals products to our members and its clients.”
SBMA will continue to serve as a bridge between regulators and the bullion industry at large, and aims to build Singapore into a global precious metals trading hub.
Last month, SBMA organised the inaugural Asia Pacific Precious Metals Conference which attracted about 335 participants from the London Bullion Market Association, World Gold Council, The Chinese Gold & Silver Exchange Society, London Metal Exchange, COMEX, and Thailand Futures Exchange. Shanghai Gold Exchange as well as representatives from the gold trade in the ASEAN countries, Africa, Australia, Canada, China, Hong Kong, India, Middle East, New Zealand, Taiwan, Turkey, Russia, U.K. and the U.S.A.
With the new addition of the LME, SBMA total membership consists of 37 companies, including 3 Category 1 members, 6 Foreign Associate Corporate members and 28 Local Associate Corporate members.