TFEX Launches New Silver Online Futures

​Thailand Futures Exchange (TFEX) has launched today new cash settled Silver Online Futures contract, which tracks global silver price and must be delivered in December 2020.

The contract is based on 99.9% purity silver bullion. Similar to TFEX Gold Online Futures, Silver Online Futures will be quoted in terms of US dollars pertroy ounce but settled in the local currency with a multiplier of 3,000. The London Bullion Market Association or LBMA silver price will be used as a basis for the final settlement price. 

To align with TFEX precious metal contracts' trading hours, Silver Online Futures will be available for trading until 3.00 a.m. (Bangkok time) of the following day. At client level, the margin for Silver Online Futures contract is expected to be around THB 10,675 per contract or approximately 15% of the notional value of the contract.

TFEX Managing Director Rinjai Chakornpipat said: "Silver price is quite volatile and it has rallied strongly this year, rising from March low to a seven year high in August due to the growth in both investment and industrial demand. TFEX introduces Silver Online Futures to capture the increasing popularity of silver trading and hedging."