First cleared iron ore swap on Singapore Exchange

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 potential," says John Banaszkiewicz, managing director of Freight Investor Services.

The launch of the SGX Iron Or

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