LME to launch physical steel futures from April '08

(Reuters) - The London Metal Exchange said on Tuesday it will start trading in April 2008 two steel futures contracts to meet demand for physically deliverable billets, a move seen as positive for the steel industry.

The exchange will be following the Dubai Gold and Commodities Exchange (DGCX), which was due to launch its steel futures contract later this month but has decided to delay until after mid-year.


Read more at Reuters Africa

Dubai Plans to Offer World's First Exchange-Traded Rupee Futures Tomorrow

(Bloomberg) -- Dubai Gold & Commodities Exchange
will tomorrow begin offering the world's first exchange-traded
futures contracts in Indian rupee, helping companies and
investors hedge against risks.

The contracts, linked to the future value of the rupee and
settled in euros, will trade in Dubai, United Arab Emirates,
David Rutledge, a director at DGCX, told reporters in Dubai
today. The market is outside the jurisdiction of India's central
bank, which places curbs on trading in the rupee, he said.


Read more at Bloomberg Currencies News

Web Sites Ordered to Pay $3.6 Million for Energy-Trading Scam, CFTC Says

(Bloomberg) -- A U.S. federal court ordered two Web
sites to pay $3.65 million for bilking investors by posing as an
energy-trading exchange and a broker, the U.S. Commodity Futures
Trading Commission said.

The sites, which used the names York Commodities and the
American Energy Exchange, were ordered by a U.S. District Court
in Manhattan to reimburse investors almost $3.3 million and pay
$390,000 in fines, the Washington-based CFTC said today.


Read more at Bloomberg Energy News