New Thai Silver Futures Well Received
Source: Asia eTrading (6/21/11)
"Extended gold and silver trading hours were also successful."
Thailand Futures Exchange PCL's (TFEX) silver futures traded 555 contracts during the June 20 launch (TFEX is a part of The Stock Exchange of Thailand Group).
Introduction of extended trading hours of gold and silver futures that same day also gained success, with a combined trading volume of 11,332 contracts, helped by high volatility in the global market, enabling investors to manage risks and create better returns.
"The enthusiastic response showed promising signs for growth, as this new product and the trading extension help fulfill investors' needs," said TFEX Managing Director Kesara Manchusree.
"Gold and silver prices are highly volatile in the evening when the New York market, which is a key global market, is open, triggering both opportunity to make profits and also risk to futures investors," Ms. Kesara said.
The total trading in silver futures of 555 contracts was comprised of 20 contracts of SVM11, maturing in June; 481 contracts of SVQ11, maturing in August; and 54 contracts of SVV11, maturing in October. Of the 11,332 contracts in the evening trading, 5,080 contracts were 50-baht gold futures, 5,970 contracts were 10-baht gold futures and 282 contracts were silver futures.
Trading volume in the evening was 75.80% of trading in the rest of the day.
Investors are able to trade both gold and silver futures in the evening through 33 derivatives brokers, using either the internet or marketing brokerages, Ms. Kesara concluded.