LCH-C launches freight clearing
02 May 2005
Clearinghouse LCH Clearnet (LCH-C) has announced plans to launch clearing for OTC shipping contracts in July this year and has signed an agreement to clear trades executed on a new electronic trading platform for forward freight agreements (FFAs) created by shipping brokerages Clarkson, Ifchor and Freight Investor Services (FIS).
The announcement came with New York Mercantile Exchange (Nymex) already planning to launch its own freight futures contract this quarter (see FO Week Vol 10 No 12). A spokesperson for LCH-C told FO Week she believed...
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