Asia has been seen as an opportunity hub by the Singapore Exchange (SGX) and the London Metal Exchange (LME).

LME took a step ahead and opened its first Asia office in Singapore to take advantage of growing demand for metal trading in Asia. It is its first office outside London.

Asian market is growing and there are a number of opportunities to explore there. There is a chance of meeting the market’s demand, as told by Ms Liz Milan, Managing Director for LME Asia. LME is keen to develop it base in Asia with new contracts and alliances. One such example is its alliance with SGX.

LME offers metals price risk management tools including futures and options contracts for aluminium, copper, tin, nickel, zinc, lead as well as others.

Last year LME’s trading was US$7.4 trillion and the exchange currently has 5.96 million tonnes of material on warrant.

Mr. Magnus Bocker, CEO of SGX stated that they are glad to work with LME. Their alliance will help both the exchanges to benefit from a number of common areas and thus increasing their market worth. They are ready to meet the need of Asian customers as the commodity market is strong across Asia.

A Memorandum of Understanding (MOU) has also been signed by SGX with the Suzhou Industrial Park (SIP) in Jiangsu Province to expand its listing partnership in China.