SINGAPORE -- Singapore Exchange Ltd. (SGX) here today announced plans to offer futures contract trading for DRAM products starting in the first quarter of 2003.
For the launch of the futures trading program, SGX has appointed Semicon Exchange Pte. Ltd. (SemiconX) as its advisor. SemiconX is a semiconductor trading platform provider. The program has garnered supported from the Infocomm Development Authority of Singapore and the International Enterprise Singapore.
Subject to regulatory approval, DRAM futures will be traded on the SGX derivatives market's Electronic Trading System (SGX ETS). The contract specifications, including the type of DRAM chip, will be finalized after further consultation with the industry.
Officials from SGX said the contract will be denominated in U.S. dollars and that the size of each contract will be 10,000 pieces of DRAM with a value of approximately $70,000.
SGX embarked on the development of a DRAM futures contract after feedback from chip manufacturers and users, said Ang Swee Tian, president of the Singaporean-based commodity firm. "Introducing the world's first DRAM futures is a result of leveraging on our expertise and established infrastructure for financial derivatives instruments," he said in a statement.
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