SGX teams up with Baltic Exchange

The Singapore Exchange (SGX) and the Baltic Exchange have signed an agreement, under which the European bourse will provide its benchmark prices for the settlement of forward freight agreements (FFAs) for dry bulk and wet tanker dirty routes cleared on the SGX over-the-counter clearing facility.

The Baltic Exchange will also make available its forward curve price assessments for margin calculations.

Jeremy Penn, chief executive of the Baltic Exchange, said: “We are pleased to collaborate with the Singapore Exchange in providing our prices for its settlement of FFAs and forward curve rates for the management of margins. Singapore is strategically located in its region as an important maritime centre, and this development of a clearing facility for FFAs should further enhance freight derivatives trading and risk management activities in Asia.”

The OTC clearing facility is set to launch on May 16.

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