FINEX again postpones Singapore dollar futures

FINEX again postpones Singapore dollar futures

NEW YORK (Reuter): FINEX, the financial products division of
the New York Cotton Exchange (NYCE), again postponed the launch
of the a futures contract on the Singapore dollar Friday, but
successfully launched futures contracts on three other Asian
currencies, an exchange official said.

"We successfully launched the contracts on the Malaysian
ringgit, the Indonesian rupiah and the Thai baht today, but we
had to postpone the start of the Singapore dollar contract,"
exchange research and product development officer, June Furlan,
told Reuters.

"We are still in discussions with the MAS (Monetary Authority
of Singapore) on the Singapore dollar contract and we don't have
a new launch date yet, but we are hoping it will be in
September," she said.

Earlier the MAS and the Indonesian central bank both expressed
concerns about the launch of the new currency futures contracts
by FINEX.

As a result FINEX postponed the launch of the new financial
derivative products from June 26 to July 11.

The currency pairs being traded under the new contracts are:
the U.S. dollar/Malaysian ringgit, U.S. dollar/Indonesian rupiah,
U.S. dollar/Thai baht and U.S. dollar/Singapore dollar.