|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Monday 10th of January 2011
May 2, 2005    

LCH.Clearnet competes on new commodities routes

Bookmark and Share

by Brian Turner
LCH.Clearnet competes on new commodities routes

LCH.Clearnet, the biggest derivatives clearing house in Europe, will begin clearing shipping derivatives in July.

In announcing this move, LCH.Clearnet said it would clear forward-freight agreements, traded in the over-the-counter market, based on seven dry bulk commodities routes and five oil-tanker routes.

This move, which shows a growing interest in a market that has tripled in the past three years, will put the company in direct competition with the New York Mercantile Exchange (Nymex) and with Nos Clearing, based in Oslo.

LCH.Clearnet already competes with Nymex in clearing energy futures.

The launch of the new service will be complemented by a new online trading platform, CIF, owned by Clarkson Securities, Ifchor, and Freight Investor Services, but LCH.Clearnet’s director of customer and market management said that the service would not be completely dependent on this new platform, but would also clear voice-brokered and bilateral trades.

Discuss this in the Finance Markets forums

Story link: LCH.Clearnet competes on new commodities routes




Related financial stories to: LCH.Clearnet competes on new commodities routes:
Previous: «
Next: »

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Visited 877 times, 3 so far today