Cleartrade Exchange (CLTX), the Singapore-regulated futures exchange, has launched the Cleartrade Exchange Data Centre (CDC), a web-based service providing data transparency on iron ore and freight derivatives markets.
The CDC aggregates freight and iron ore swaps and options data from the major clearing houses such as SGX Asiaclear, NOS Clearing ASA and LCH.Clearnet, into a single location that enables users to see daily traded volumes by product as well as high and low prices and open interest on a daily basis.
CLTX commented that a new wave of banks, trading houses, ship owners, commodity producers and end users are evaluating swaps and options, as the global economy pulls out of recession. The timing of the launch is designed to capitalise on growing interest among new market players in trading these highly liquid and volatile markets.
“Until now, reliable trade volume data has been split across a number of clearing houses for both iron ore and freight and this needed to be aggregated before it could be properly analysed,” said Richard Heath, head of products at CLTX. “We have listened closely to what the market needs and the result is a unique product which puts high-quality data in the hands of traders and those still evaluating the opportunity that these products present.
“We believe the timing of the CDC is perfect in helping potential market participants make decisions about the timing of their market entry. Iron ore derivatives are still just 20% of the underlying seaborne trade and have massive potential to grow further this year, while forward freight agreement (FFA) levels and volumes are recovering after four years of capacity oversupply and suppressed prices. The data needed to get into these markets has been very fragmented until now, but this is the perfect opportunity to evaluate the market and get involved.”
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