Bangkok--29 Jul--SET
Thailand Futures Exchange PCL (TFEX), under the Stock Exchange of Thailand group, joins hands with seven gold shop operators to offer physical gold exchange service for gold futures investors, enabling them to exchange a matured contract into physical gold at the gold shop operators. The service will start from the gold futures contract maturing in August.
TFEX Managing Director Kesara Manchusree said “This new service facilitates investors to trade gold futures via all TFEX’s broker members to exchange the contract with seven leading gold shop operators. These are Globlex Holding Management pcl, Classic Gold Futures Co., Ltd., GT Gold Bullion Co., Ltd., YLG Gold Co., Ltd., Ausiris Co., Ltd., MTS Gold Co., Ltd., and Hua Seng Heng Commoditrust Co., Ltd. They are fully-equipped and well-prepared and ready to service gold physical exchange.”
This service will be a choice for investors, gold shop operators, or investors wanting to use physical gold in the future. They are able to trade gold futures in TFEX to fix the trading price in advance without full payment or for immediate delivery on the transaction date. This will help boost flexibility for investors to exchange gold and manage risk the way they want, Kesara added.
The service will be for the 50-baht and 10-baht gold futures contracts, starting from the contract maturing in August (GFQ14 and GF10Q14). Gold futures holders can apply for this service by informing those seven gold shops prior to the contract maturity and can exchange to physical gold within two working days after maturity. The gold trading price will use reference from final settlement price of the gold futures contract matured in that month.
In the first six months of this year, gold futures had a total trading volume of 745,094 contracts, equivalent to gold weight of 12.4 million baht, or about 189,575 kilograms. For more information, please contact TFEX’s brokers or S-E-T Call Center at 0 2229 222, orwww.tfex.co.th
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