SGX to stop trading, clearing futures on three industrial metals

Contracts lured small interest.

According to a report by Bloomberg, Singapore Exchange Ltd., Southeast Asia’s biggest bourse, plans to stop trading and clearing futures on three industrial metals after the contracts attracted little interest from customers.

SGX, which started trading the copper, zinc and aluminum futures in a joint venture with London Metal Exchange in February 2011, will make the products “dormant” pending approval from the the Monetary Authority of Singapore, according to an e-mailed statement from SGX in response to queries from Bloomberg News. The LME, the world’s largest metals bourse, will pursue other options for boosting volumes in Asia, according to a separate e-mailed statement from parent company Hong Kong Exchanges & Clearing Ltd.

Read full report here.