Singapore Mercantile Exchange (SMX) on Monday said its turnover grew 8-fold to over $100 billion in the second year of its exchange business in Singapore.
SMX has been able to achieve this record figure by introducing and restructuring its products and services, to cater to the needs of the market, the exchange backed by Financial Technologies (India) Ltd said.
SMX CEO V. Hariharan had recently said research and product innovation has helped growth in volumes across all commodity classes.
SMX contracts include E-Gold bar in US dollar terms, Iron Ore Index, Euro-US dollar, Copper and Black Pepper.
Going forward, SMX's potential futures contracts include USD-Rupee and USD-Renminbi, Hariharan said.
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