First cleared iron ore swap

Singapore Exchange (SGX) launched the world's first cleared iron ore over-the-counter swap contract on April 27.

SGX has also announced that it has signed an agreement with the Steel Index (TSI) to provide a reference price for the settlement of the iron ore swap contract to be cleared via SGX AsiaClear.

"The timing of a cleared swap contract is excellent given the shift from annual pricing to spot pricing. Combining this with a freight derivative contract, SGX's iron ore swap clearing has great

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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