Basis risk drives volumes onto Shanghai iron ore swap debut
SCH volumes one third of SGX's after two weeks of trading
Volumes of iron ore swaps traded on the Shanghai Clearing House (SCH) since the contract was launched on August 4 have reached a third of the amount changing hands on the Singapore Exchange (SGX). However, market players say the latter's international role means that its leading global position in the contract is not under threat.
SCH, a central counterparty that provides clearing and settlement services for over-the-counter (OTC) products in China, debuted its iron ore swap contract by closing
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