ICICI clears and settles first gold contract on SMX

ICICI Bank’s SMX membership closely followed the opening of the bank’s first retail branch in Singapore. Trading on the fully electronic SMX platform went live in the second half of last year with futures contracts for WTI crude oil, Brent crude oil denominated in euros, gold with physical delivery-based settlement and EUR/USD currency futures (FX Week, August 9, 2010).

Framroze Pochara, chief executive at the SMX Clearing Corporation in Singapore, said: “We are very happy to have ICICI on board

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