This first wet OTC FFA trade cleared by SGX AsiaClear™ was a deal in the over-the-counter (OTC) market between traders Trafigura Pte Ltd and ABN AMRO Commodities on the Tanker Clean 4 (TC 4) Route. The trade was brokered by OTC broker, GFI Group and cleared by SGX Clearing Members, ABN AMRO Futures and Fimat Singapore.
The SGX AsiaClear™ OTC clearing facility was launched on 16 May 06. It has since started clearing trades in all three major categories of OTC products in which it offers clearing services: oil swaps, dry bulk FFAs and wet/tanker FFAs.
