LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Thailand Futures Exchange PCL (TFEX) announced that plans to launch the new product “Gold-D” on September 4, 2017, together with the extension of trading hours of all gold products till midnight.
TFEX Managing Director Rinjai Chakornpipat said TFEX will roll out Gold-D contract, a physical settlement futures contract based on gold bar with 99.99% purity, on September 4, 2017. Gold-D contract will be quoted in US dollar to allow for better alignment with global gold prices movement. Daily mark to market and settlement of Gold-D will be in Thai baht while physical delivery is obligated at expiration of the contract. Only physical gold stored in designated vault appointed by clearing house will be allowed for such physical settlement.
On the same day of the launch of Gold-D contract, TFEX will lengthen the night trading session of all TFEX gold contracts from 19.30-22.30 hrs. to 19.00-23.55 hrs. Such extension will better align trading hours of TFEX gold contract with global gold markets and facilitate investors to adjust their portfolios and strategies in accordance with the key influences affecting gold prices.