What does SICOM mean in STOCK EXCHANGE
The Singapore Commodity Exchange, or SICOM, is a commodities and derivatives exchange located in Singapore. Established in 1985, SICOM encompasses a wide range of commodity related activities, from trading in financial derivatives to physical spot trading. It serves as an important hub for investors and traders looking to take advantages of the options available on the commodities markets. With its wide array of products, SICOM offers an excellent platform for both novice and experienced traders alike to participate in global commodity markets.
SICOM meaning in Stock Exchange in Business
SICOM mostly used in an acronym Stock Exchange in Category Business that means Singapore Commodity Exchange
Shorthand: SICOM,
Full Form: Singapore Commodity Exchange
For more information of "Singapore Commodity Exchange ", see the section below.
What does SICOM mean?
SICOM stands for Singapore Commodity Exchange. It is the first commodities exchange in Southeast Asia that facilitates a wide range of commodity-related activities, such as futures trading, over-the-counter tradings, options trading and spot physical trades. SICOM offers investors access to multiple asset classes such as Precious Metals (Gold and Silver), Energy (Crude Oil & Fuel Oil) as well as other resources commodities like Iron Ore & Coal Futures Contracts.
What can I do with SICOM?
Trading on SICOM provides investors with numerous opportunities for profit generation through different types of contracts available from several trading platforms. Investors can access financial derivatives such as futures and options contracts based on various underlying commodities like Gold & Silver Futures Contracts, Crude Oil & Fuel Oil Futures Contracts etc. Investors can also take advantage of spot physical trades executed on the Exchange’s highly secure platform for delivery of physical commodities traded on it including iron ore and coal spot contracts which have gained popularity since their launch earlier this year.
Essential Questions and Answers on Singapore Commodity Exchange in "BUSINESS»STOCKEXCHANGE"
What is a Singapore Commodity Exchange (SICOM)?
SICOM is a private trade platform for companies and individuals to trade physical commodities such as oil, grains, metals and rubber. It is an online marketplace that allows its members to buy and sell physical commodities through the secure platform using various trading tools.
Who can trade in SICOM?
Trading on SICOM is open to registered members only. Traders must sign up with the exchange in order to be eligible for trading.
What are the advantages of trading on SICOM?
There are several benefits of trading on SICOM including low transaction costs, wide variety of products available for trade, real-time price quotations, quick settlement time and access to global markets.
What kind of commodities can be traded on SICOM?
The commodity contracts available on SICOM include oil products like Brent Crude Oil and Medium Sour Crude Oil as well as agricultural products like wheat, corn, soybeans and flour. Additionally, contracts also include metal commodities like copper, aluminum and zinc as well as rubber.
How do I become a member of SICOM?
To become a member of SICOM you must first complete the membership application form found on their website. The application should contain all necessary documents including financial statements or bank statements showing sufficient capital for your proposed trades. You will also need to pass several checks before being accepted into the exchange.
Are there any fees involved in trading in SICOM?
Yes, when you sign up as a member there is a deposit fee which is payable while signing up with them as well as transaction fees for each completed transaction you make after you open an account with them. There may also be other fees associated with your account depending on what type of account you open.
Is my money safe when I'm trading through SICOM?
Yes, your money is safe when you're trading through SICOM because it uses secured networks that protect users from third party interference or hacking attempts and has strict policies against frauds or scams related activities taking place within the exchange's system. Your funds also remain segregated from the exchange's operational funds and are monitored by government regulators regularly.
Does trading in SICOM require knowledge about different markets?
Yes, successful traders must have some level of market knowledge or understanding because they need to understand how prices change due to market conditions before making successful deals. Being familiar with various types of investment strategies can also help traders craft better transactions and increase their profits in the long term.
Final Words:
SICOM has rapidly established itself as one of the leading regional exchanges for commodity trading and continues to attract a growing number of investors who are looking to tap into international markets with ease. With its extensive range of products backed by its sophisticated infrastructure technology offering transparent pricing data along with reliable risk management tools; SICOM is well positioned to become an integral part of any investor’s portfolio strategy.