Monday, March 21, 2011
Singapore SMX eyes May launch of iron ore futures
Mon Mar 21, 2011 6:16am EDT
By Rujun Shen
SINGAPORE : McMahon said Asia could benefit as more and more regulatory framework is expected to be put in place in Europe and the United States.
"The opportunity is that the framework here is robust, and people are doing business in Asia. Their clients are in Asia, their operations in Asia, their banks are in Asia, so the logical conclusion is that they clear and trade in Asia."
But the lack of regulatory collaboration across the border is a barrier.
"You're seeing the rise of China's commodities exchange and India's commodity exchanges, but you still can't get there from here," he said, noting that foreign commodity traders face restrictions in both countries.