Singapore Exchange (SGX) has said it will launch its
clearing facility for OTC energy and freight derivatives on 18
May, instead of 5 May as previously planned, due to a
government snap election called for 6 May.
The exchange has also signed an agreement with Platts, who
will provide the benchmark prices that are used for the final
settlement price for all the oil derivatives contracts.
Clearing facilities will be offered on 18 OTC oil and
freight derivatives, including seven oil derivatives, four dry
bulk voyage forward freight agreements (FFAs), two dry bulk
time charter FFAs, three dry bulk time charter basket FFAs and
two wet tanker FFAs. FFAs are OTC products made on a
principal-to-principal basis for trading specified time charter
and voyage rates for forward positions.
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