YKOFX, a Pan Asian exchange with innovative and robust product suite that provides its clients with some of the best trading facilities, today announced the publishing of a position paper revealing new preconditions for listed brands in reference to the competent sources of metals.
After a long time of getting associated with other industry representatives and based on the results of the sourcing analysis, YKOFX requires all the producers to evaluate their producing factors towards qualified sourcing and to provide evidence of the outcomes. YKOFX plans to cooperate with producers in order to provide them with assistance in determining the important influencing factors related to the production of both higher-focus or lower-focus brands. Higher-focused brands will have to implement standards according to the guidelines and determine through an audit process the corresponding compliance with the requirements. In the case of other physically settled base metals listed on the exchange, the brands will be divided based on the outcome of the self-assessment. Lower-focus brands do not have to accept formal standards or brands compliance.
Additionally to this assessment process, YKOFX suggests for listed brands to follow compliance with the standards related with the management of the environment and occupational health. The introduction of these last standards along with the existing ones pointed in the guideline will stand for a first step towards an all-embracing responsible sourcing requirement that will be updated on a regular basis.
“Interested market users are aware of the fact that metal products listed on YKOFX will reflect healthy standards of qualified sourcing. Our proposals have been welcomed by the metals industry and several members have taken supportive action. We count on the feedback from market participants that will help us create more conditions for our goals to be achieved”, said Choei Ono, Head of Global Commodities.
About Yokohama Options and Future Exchange (YKOFX)
YKOFX is powering its clients’ potential to stay ahead of an evolving market. It redefines the future of the trading and investment landscape to create more value for the marketplace, customers, investors and employees. YKOFX is offering cutting-edge trading and investment solutions to investors around the world. YKOFX offers trading across a diverse range of products in multiple asset classes and geographies, including commodities, options, futures, exchange-traded products (ETPs), global foreign exchange (FX), and multi-asset volatility products. It is also providing genuine industrial insights as well as information on the benchmark commodity prices.
Media contact: Taiki Harumi - +8167-143-8731
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Release ID: 17011