GREEN TIGER MARKETS ANNOUNCES MAIDEN TRADE IN PHYSICAL RHODIUM ON CLOUD-BASED TRADING PLATFORM

KUALA LUMPUR, July 7 (Bernama) -- Green Tiger Markets Pte Ltd (GTM) has announced the first trade in Physical Rhodium on its cloud-based trading platform.

According to a statement, the trade was for spot Rhodium sponge of 99.9 per cent purity deliverable at the Johnson Matthey Royston vault.

“At Green Tiger Markets we believe in transparent markets that effectively send price signals to market participants. We believe in making it easier for buyers and sellers of underserved commodities markets to find each other to hedge price risk,” said John Knorring, CEO of Green Tiger Markets Pte Ltd.

“We worked closely with market participants to launch the Rhodium contract: putting our clients' needs first in the development of the product. We anticipate that the Rhodium contract will bring liquidity and transparency to this historically underserved and opaque market.”

The trade mitigates the price risk of the physical commodity Rhodium for both the Buyer and the Seller. The spot-basis trade will exchange US dollars for Rhodium sponge in the Johnson Matthey Royston vault with delivery in two days.

The Rhodium spot contract was recently listed by GTM. The GTM Marketplace also offers market participants the opportunity to trade Rhodium forwards and location-swap contracts, which will further allow market participants to manage price risk.

GTM develops and operates derivatives marketplaces that facilitate the forward hedging of price on a financial or physically-settled basis. Marketplace participants buy or sell spot and forward contracts with other participants who have opposing price risk management needs.

-- BERNAMA