Singapore Exchange (“SGX”) Iron Ore Swaps achieved a second consecutive record month in August 2012 with an exceptional 14.88 million metric tonnes (29,763 lots) cleared. This was 42% higher than the previous record set in July 2012. Open interest also reached a new high, surpassing the 10 million (20,961 lots) mark on 30 August 2012.
On the back of the recent surge in interest in iron ore, the Exchange has announced that the SGX OTC Iron Ore and FFA Options (“SGX OTC Options”) will be launched on 10 September 2012.
In appreciation of customers’ strong support and in conjunction with the launch of options clearing, SGX is pleased to introduce the following special fee rebate for swaps clearing during the options launch period.
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Volume of Iron Ore Options cleared on SGX from 10 Sep 12 to 31 Oct 12 |
Rebate on Iron Ore Swaps cleared on SGX from 10 Sep 12 to 31 Oct 12 |
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501 – 1000 lots |
10% |
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1,001 – 2,000 lots |
20% |
|
Above 2,000 lots |
40% |
This is in addition to the 100% clearing fee rebate for all SGX OTC Options cleared from launch till October 2012 as announced previously.
To recognise market participants’ contributions towards the development of the SGX OTC Options, the Exchange will also present awards to the brokers and customers who clear the first trade, the largest trade* and highest volume* during the first month of launch from 10 Sep to 9 Oct 2012.
