FOi - Futures and Options Intelligence

Scotia and StanChart join LME as associates
The board of directors of the London Metal Exchange Ltd has approved the membership applications of Standard Chartered and Scotia Bank Europe to become associate broker clearing (also known as Category Two) members of the LME.
Associate broker clearing members can issue and clear LME contracts. They operate through the 24 hour inter-office telephone market and also use the exchange’s electronic trading platform, LMEselect, but are not permitted to trade in the exchange’s open outcry trading floor, the Ring.
Both banks are members of LCH.Clearnet and are authorised by the Financial Services Authority.

SGX to clear OTC container swapsSingapore Exchange will begin clearing four new over-the-counter container swap contracts from August 2.It hopes the contracts will support the nascent container freight derivatives market by managing counterparty credit risk. Participants can access SGX AsiaClear’s large pool of counterparties without needing to set...