Singapore Exchange

Singapore Kilobar Gold Contract

Presentation at LBMA Bullion Market Forum

Shanghai

25 June 2015

An opportunity for a partnership – SBMA, WGC, SGX –to build a Southeast Asian marketplace

WGC

SBMASGX

Contribute to product development Marketing

Category 1 members to be Market Makers

Establish Good Delivery List

Marketing

Provide market platform for trading, clearing, settlement and delivery

Marketing

Exchange-tradedWholesale Kilobar

Gold Contract

SGX – Singapore Exchange Derivatives Trading LtdSBMA – Singapore Bullion Market AssociationWGC – World Gold Council

The LBMA Bullion Market Forum 2015 25 June 2015

Session 3 - Lily Chia 1

The first daily deliverable gold contract under an established regulatory framework

• Onscreen trading provides real-time pricing transparency and comprehensive transaction statistics

• Governed by a robust regulatory frameworkFutures

• Daily physical delivery ensures that pricing is backed by physical delivery

• Listing of 6 daily contracts allows market to trade in further out contracts in times of gold shortage

Daily Expiration

• Deliverable gold is clearly specified within a closed chain of custody

• Each lot of 25 kilobars from the SBMA Good Delivery List is delivered into the Approved Vault at the Singapore Freeport

Physically Delivered

• Pricing process is visible on trading systems, Bloomberg, Reuters, SGX website

• Competitive pricing with Market-Makers committed to max 7 ticks spread – US$0.035/g

• Average premium Jan-Jun 2015 = US$0.64

• Total volume traded (Oct 2014 to date) = 6,725 kg (majority physically delivered)

SGX Gold prices have been competitive

The LBMA Bullion Market Forum 2015 25 June 2015

Session 3 - Lily Chia 2

sgx.com

Thank you

Singapore ExchangeLondon • Tokyo • Beijing • Hong Kong • Mumbai

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© SGX Ltd, September 2014

The LBMA Bullion Market Forum 2015 25 June 2015

Session 3 - Lily Chia 3