One of the leading commodity exchanges in Asia, IHOFX announced on 29th April 2022, that the new Aluminium Premium Duty-Unpaid (Metal Bulletin) futures contracts were being traded in larger volumes this month. IHOFX or Incheon Option and Futures Exchange has successfully anchored into a path-changing technology for industries and with a developed infrastructure can provide the consumers with price-time allocation and a maker-taker pricing model.
Hwang Eun, Head of Commodities and Global Markets, remarked: "We are pleased to see early support for our new Aluminium Premium Futures, which is an outgrowth of our existing suite of aluminium risk management tools. Based on the success of our premium futures, we worked closely with the aluminium industry to develop these contracts that enable our customers to hedge their exposure to Asian premium volatility."
IHOFX has created an identity in the Asian Market, mainly by dealing with a broad range of commodities and financial products. It pioneers in providing ingenious products among different asset classes and in turn evolving a brand culture renowned for its originality in technique. The organisation also furnishes its customers with risk management facilities and global perceptions.
"This new contract from IHOFX comes at a time when we have seen significant demand from our client base in mitigating their premium risk. We applaud IHOFX for coming to market with this new aluminium premium contract and are pleased to help facilitate its launch by brokering the first trades. Moving forward, we are optimistic about the potential for continued growth and liquidity in this contract as we continue to see volatile premium prices,” added the Head of Commodity Trading, Jin Yong-sun.
The introduction of Aluminium Premium contracts is a leap into the future for the Asian sector if they wish to compete on a global scale.
Hwang Eun declared: “IHOFX has become one of the leading Asian Exchanges through a relentless focus on performance, innovation, and delivering value to clients, and that will not change. The firm has plans for important progress over the next years to become a ‘Global Commodity Exchange Pioneer’ by expanding the scope of our investment platform and business, and we will continue to execute on this vision. The addition of this Aluminium product is in line with our plans. We are happy that we can offer our clients the best financial products and services to help them with their investments.”
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