21 Mar '11, 8am

UPDATE 1-Indonesia's ICDX to launch two gold contracts in April: (Adds details, quotes)

JAKARTA, March 21 (Reuters) - The Indonesia Commodity & Derivative Exchange (ICDX) will launch two new gold contracts next month, the firm said on Monday. Due to start trading on April 11, the GOLDUD and GOLDID gold contracts will be quoted in dollars, although the latter will be settled in Indonesian rupiah, Megain Widjaja, chief executive officer at the ICDX, said in a news release. "The GOLDUD is a rolling gold contract and is priced as a spot contract and open positions at the end of each trading day are automatically 'rolled forward' to the next trading day," said Widjaja. "The GOLDID is similarly a spot gold contract quoted in U.S. dollars, but the distinct and unique feature of this contract ... is that the currency is pegged and all settlements are in rupiah, thus catering to investors who do not wish to have a currency exposure," he added. Trading hours of the two...

Full article: http://sg.news.yahoo.com/indonesias-icdx-says-launch-two-...

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