PR Newswire
25 Sep 2023, 15:16 GMT+10
SINGAPORE, Sept. 25, 2023 /PRNewswire/ -- In partnership with Agridence, SGX Commodities has launched a pioneering SIR20 physical spread index for Physical Natural Rubber (NR). This spread index is derived from physical rubber trades on the Agridence trading platform, following an index methodology that leverages on industry expertise and knowledge, with strong endorsement from a panel of industry representatives appointed by Agridence as Board of Advisors.
SGX Commodities has partnered with Agridence to enhance physical price granularity for rubber grades from different origins traded in the physical market, starting with SIR20 (rubber produced in Indonesia). The newly launched physical spread index might evolve over time as a reference for long-term contracts (LTCs), used in conjunction with benchmark SICOM pricing.
Agridence's trading platform now provides real-time price visibility, ensuring accurate and transparent transactions across the trading channel. Transactions are carried out bilaterally, ensuring that users' confidential trade data is only visible to the transaction parties. To maintain market neutrality, SGX protects confidentiality and acts as a trusted custodian by exclusively owning trade data on the Agridence platform.
"We are happy to collaborate with SGX Commodities in rolling out this new SIR20 physical spread index, which we believe will benefit the rubber industry as a complementary pricing option. The creation of the index leverages on the capabilities of Agridence and is based on actual physical transactions between consumers and producers done on our platform. We intend to work with SGX Commodities to make similar indexes for other rubber origins available to the market in due course." said Ulrich Antoni, Head of Business Development and Partnerships
In tandem with this development, Agridence has released an updated version of its Rubber Trading app, complete with an updated interface and a range of additional capabilities to keep up with the rapidly changing technological scene. This release coincides with a momentous achievement -the trading of 1 million metric tons of NR on the Agridence platform. The celebratory event took place at SGX Centre, marking two significant milestones in the industry.
About Agridence Pte Ltd
Founded and based in Singapore, Agridence brings you the future of commodities trading. We are at the forefront of digitalising the agri-commodities supply chain across the globe to create a data-enriched and technology-powered ecosystem. This digital transformation enables deeper analysis of the supply chain to uncover environmental, social, and financial risks allowing targeted interventions.
At Agridence, we use technology to enable data transparency and strengthen trust. We provide industry intelligence and insights to empower our customers to make smarter decisions. We strive to identify issues and deliver solutions that will redefine how commodities are produced and traded.
For more information, please visit http://www.rubber.agridence.com
Media Contact: info@agridence.com
ARPL Governance Details: http://www.rubber.agridence.com/governance/
LinkedIn: http://www.linkedin.com/company/agridence/
Get a daily dose of Asia Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Bulletin.
More InformationWASHINGTON, DC - Within hours of blocking a UN Security Council resolution from demanding a ceasefire in the current Mideast ...
WASHINGTON D.C.: In a sign of the challenges ahead for his 2024 re-election bid, a new Reuters/Ipsos poll showed that ...
Israel has acknowledged and thanked the United States and President Joe Biden for standing firmly by Israel's side at the ...
NEW YORK: This week, New York City officials said that one person was killed and six others were injured when ...
NEW YORK, New York - The United Kingdom refrained from supporting demands for a ceasefire in the two-months long Israel-Gaza ...
NEW YORK, New York - The U.S. was alone on Friday in a 13-1 vote for a ceasefire in the ...
LOS ANGELES, California: This week, members of the SAG-AFTRA actors union approved a three-year contract with major studios, formally ending ...
LAS VEGAS, Nevada: The U.S. Transportation Department has allocated US$3 billion for a $12 billion Las Vegas to Southern California ...
WASHINGTON D.C.: U.S. gasoline prices could fall below US$3 a gallon for the first time since 2021 and are currently ...
WASHINGTON D.C.: To fix issues that could lead to further bank failures in the U.S., such as the collapse of ...
ARLINGTON, Virginia: This week, Reuters reported that Boeing delivered 46 narrowbody 737s jets in November. The total brings the U.S. ...
NEW YORK, New York - A positive employment report from the U.S. Bureau of Labor Statistics indicating a fall in ...