First biodiesel paper swap traded through ClearPort

The first ever over-the-counter biodiesel paper swap has been brokered by US firm Starsupply Renewables through CME Group's ClearPort system.

The trade closed on March 23 between two European biodiesel trading houses and was for April 2009 rapeseed oil methyl ester (RME).

Joachim Emanuelsson, chief operating officer at Starsupply Renewables, expects the introduction of RME trading on ClearPort to enhance liquidity in the biodiesel paper swap market. "ClearPort offers a great way for counterparties