.jpg)
Cleartrade Exchange (CLTX), the Singapore regulated futures exchange for commodity derivatives, announces the first trade for its new mini fertilizer futures contracts. The contracts launched on Thursday May 14th with the first trades observed on CLTX later that day.
Richard Heath, Head of Product, CLTX, said “I am delighted to announce that our new mini fertilizer futures gained traction immediately with several members placing and matching orders on the exchange. These new contracts were launched after extensive consultation with the market and are designed to extend the benefits of forward price transparency and risk management to a wider segment of the fertilizer industry, many of whom were unable to participate in the market previously.”
Jay Pierce, COO, Advance Trading, said “This is a potent tool in the producers risk management toolbox. The ability to help manage nutrient input costs will greatly benefit our customers and the marketplace as a whole. I am confident that this will receive the full support of the risk management industry and from new entrants who are now able to participate in this market.
CLTX’s three new financially settled futures fertilizer contracts are a welcome addition to a suite of over 40 different futures contracts covering Freight, Metals, Energy and Agriculture markets.
