Iron ore swaps grow on London Dry Bulk

Over one million swaps have been cleared through the Singapore Exchange (SGX), since 1 November.

"We estimate that during November, we were responsible for around 50% of the cleared volumes on SGX," says a spokesperson for LDB.

LDB-X allows the trading both of iron ore swaps and steel futures. Last week, the platform saw its first iron ore swap for the first quarter 2010 traded and today saw the first instance of an Asian counterparty trading independently through the platform.

LDB was establish