Clearinghouse LCH Clearnet (LCH-C) has announced plans to
launch clearing for OTC shipping contracts in July this year
and has signed an agreement to clear trades executed on a new
electronic trading platform for forward freight agreements
(FFAs) created by shipping brokerages Clarkson, Ifchor and
Freight Investor Services (FIS).
The announcement came with New York Mercantile Exchange
(Nymex) already planning to launch its own freight futures
contract this quarter (see FO Week Vol 10 No 12). A
spokesperson for LCH-C told FO Week she believed the
clearinghouse can offer a better service thanks to being based
in London, the hub of the freight world, by being more highly
capitalised than Nymex and by offering margin offsets with
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