CWT financial services arm to set up physical commodity exchange in Indonesia

SINGAPORE (Sept 19): Straits Financial Group, the financial services arm of CWT Limited, has obtained the regulatory licence to operate a physical commodity exchange it brands as Asia Commodity Marketplace (ACM) along with its dedicated clearing house in Indonesia.

In a Tuesday announcement, CWT says ACM intends to offer an organised market place for local producers and international market participants to “transact directly and negotiate anonymously over an electronic platform”. The arrangement will also allow market participants to access a larger pool of counterparties to trade physical commodities through the clearing house.

The group intends for cargoes to be delivered through secured bonded warehousing facilities, both inland and along major seaports in Indonesia.

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