Trading briefsThis article was originally published in The Public Ledger
INDIA'S largest commodity bourse, the Multi Commodity Exchange, will announce the launch of a commodity exchange in Singapore on July 9. The new exchange, which will be named the Singapore Mercantile Exchange, has already received approval from Singapore's government and will be formally announced by Jignesh Shah, founder and chairman ofMCX, at a special event organised by backer Financial Technologies. The Singapore government is said to be picking up a stake in the venture through the Economic Development Board. It hold stakes in the Singapore Commodity Exchange and Joint Asian Derivatives Exchange.