First biodiesel paper swap traded through ClearPort

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 of 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 in this market to mitigate credit exposures and we are hopeful for much more interest in RME trading as a result," he says.