SGX lights up OTC clearing platform

22 May 2006

Singapore Exchange (SGX) has launched its SGX AsiaClear OTC clearing facility for a suite of 18 OTC oil swaps and forward freight agreements (FFAs) (see FO Week Vol 11 No 17).

The first OTC oil product cleared was a fuel oil swap between Bakri Trading and Chemoil International, brokered by Ginga Petroleum, an interdealer broker. The trades were cleared by...

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