Singapore Exchange (SGX) is delighted to announce that the cleared volume for its Iron Ore swap and options contracts reached a record high of 18.2 million metric tonnes (36,365 lots) in January 2013. This is 145,500 metric tonnes (291 lots) higher than the previous record set in September 2012. Open interest also reached a record high of 18.7 million metric tonnes (37,338 lots) on 20 February 2013.
The SGX iron ore options contract launched in September 2012 continues to gain support from participants. The market share of iron ore options cleared on SGX rose to 57% in January 2013.
This success is possible only with the support of the SGX AsiaClear OTC Inter-Dealer Brokers (IDB) and General Clearing Members (GCM). We are pleased to show our appreciation to the top IDBs and GCMs by volume cleared in 2012 for all our product classes as listed below.
SGX AsiaClear Awards 2012
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Top OTC GCMs 1st - J.P. Morgan Securities Singapore Pte Ltd 2nd - DBS Vickers Securities (Singapore) Pte Ltd 3rd - Newedge Financial Singapore Pte Ltd
Top Iron Ore IDBs 1st - Freight Investor Services Ltd 2nd- GFI Group Pte Ltd 3rd - SSY Futures Ltd
Top FFA IDBs 1st - Freight Investor Services Ltd 2nd - SSY Futures Ltd 3rd - GFI Group Pte Ltd
Top Rubber IDB Danpac Capital Pte Ltd
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Top Oil IDBs 1st - PVM Oil Associates Pte Ltd 2nd - BGC Radix Energy LP, Singapore Branch 3rd - DBS Vickers Securities (Singapore) Pte Ltd
Top Coal IDBs 1st - Tullet Prebon Energy Singapore Pte Ltd 2nd - Marex Spectron Asia Pte Ltd 3rd - Ginga Petroleum (S) Pte Ltd
Top New IDB Award
Oriental Resources Overseas Ltd
Highest Growth IDB Award
Straits (Singapore) Pte Ltd
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SGX is pleased that global customers continue to benefit from its clearing platform and have affirmed that AsiaClear futures will provide a valuable new transaction mode. We appreciate the strong positive feedback and members’ commitment to integrate their core offering to SGX Asiaclear futures. To ensure that all customers are service-ready, we have scheduled the new launch date as Monday 8 April 2013. This will provide member firms sufficient time to prepare their trading and clearing support, including conducting necessary systems testing.
The Exchange would like to thank all our customers and members for their support and participation in our markets.
For further information on SGX Commodities products, please see www.sgx.com/asiaclear.
