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SGX launches clearing facility

The Singapore Exchange (SGX) has launched SGX AsiaClear, a clearing facility for over-the-counter (OTC) oil swaps and forward freight agreements (FFAs).

Fifteen SGX clearing members will provide clearing on 18 OTC products. There are also 13 participating OTC inter-dealer brokers.

SGX chief executive Hsieh Fu Hua described the facility as "an important milestone in our vision as an Asian risk

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