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Singapore bank DBS starts trading on London metal exchange

Singapore bank DBS starts trading on London metal exchange

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Global Business Review Magazine
Saturday, April 1, 2023
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Singapore bank DBS starts trading on London metal exchange

Singapore bank DBS starts trading on London metal exchange

Singapore bank DBS said that it has commenced commodity trading on the London Metal Exchange (LME). This is after it became the first bank in Asia to be issued bourse membership registered outside London, as metals prices surge on global economic recovery.

DBS has become one of four current LME Category 4 members. This allows the bank to trade for its own account. And that too on behalf of clients but without a clearing ability. The metals prices had climbed up. And this reflects abundant market liquidity, speculative buying and robust demand prospects in the next decade. The booming renewable energy and electric vehicle sectors, both emerging as key metals-consuming sectors.

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Tan Su Shan, DBS’ Group Head of Institutional Banking said that the metals are an essential enabler to achieve a sustainable future, and as global demand for the commodity continues to grow exponentially, so will expectations on the industry’s sustainability standards. The 144-year-old LME is owned by Hong Kong Exchanges and Clearing Ltd., And this is the world’s oldest and biggest marketplace for industrial metals and Europe’s last open trading floor.

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BYD, a Chinese EV manufacturer, approaches the United States with caution

BYD, a Chinese EV manufacturer, approaches the United States with caution

BOJ resists market expectations for policy changes, pushing the currency down

BOJ resists market expectations for policy changes, pushing the currency down

Data shows that US inflation cooling

Household wealth anticipation has declined, claim by global poll

Support measures push Japanese corporate bankruptcies to 50 year low

How is the bond yield controlled in Japan?

BOJ’s Kuroda signals readiness to extend pandemic-aid scheme

Policy takes the u-turn; BoJ’s yield curve may slip

Asia shares falls on worries over inflation, Fed outlook

Stocks are calm ahead of a possible CPI hurricane

Global Business Review Magazine

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

  • BYD, a Chinese EV manufacturer, approaches the United States with caution
  • BOJ resists market expectations for policy changes, pushing the currency down
  • Household wealth anticipation has declined, claim by global poll
  • How is the bond yield controlled in Japan?
  • Policy takes the u-turn; BoJ’s yield curve may slip

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