SINGAPORE (Scrap Register): Singapore Precious Metals Exchange (SGPMX) has launched the world's first physical precious metals exchange with peer-to-peer bullion trading capabilities integrated into the trading platform in Singapore on Wednesday, amid Singapore's drive to encourage gold trading in the country.
As part of the launch, SGPMX also announced the entry into an MOU with Certis CISCO which will act as the custodian for bullion storage.
Certis CISCO has been providing secure and trusted storage of precious metals for renowned banks and international couriers since 1986. Storage with Certis CISCO will enable SGPMX to provide the platform for private individuals, traders and institutions to buy, sell, store and exchange precious metals including gold and silver bullion, without incurring high spread margins. LINK...
