SMX partners with Metal Bulletin for Iron Ore Futures Metal Bulletin Iron Ore Index (MBIOI)

SMX partners with Metal Bulletin for Iron Ore Futures Metal Bulletin Iron Ore Index (MBIOI) underlying SMX’s inaugural index-based derivative; the Exchange to trade the world’s first Iron Ore Futures Contract*Singapore, 29 September, 2010 – Singapore Mercantile Exchange (“SMX”), the first pan-Asian multi-product commodity and currency derivatives exchange, today announced that it plans to list the world’s first Iron Ore Futures basis the Metal Bulletin Iron Ore Index. Metal Bulletin is the leading independent premium information and pricing provider for the metals industries.The Metal Bulletin Iron Ore Index (MBIOI) utilises daily price data from a broad spectrum of industry participants and through leading independent Chinese steel consultancy and data provider Shanghai Steelhome’s widespread contact base of steel producers and iron ore traders across China. MBIOI’s tie-up makes it the world’s only index to-date with access to such data from a major Chinese partner. The MBIOI is a tonnage weighted calculation of actual physical transactions, normalised to 62% Fe, CFR Qingdao and is published daily at midday London time.