Singapore (Platts)--10Dec2012/606 am EST/1106 GMT
CME Clearing Europe, the European clearing house of the CME Group, will put up two new over-the-counter (OTC) iron ore contracts for clearing, according to an official announcement from the company. The London-based clearing house will begin Monday clearing the Iron Ore 62% CFR China (TSI) Calendar Swap and the Iron Ore 62% CFR China (TSI) Average Price Option. The two contracts are already being traded, but investors will now have the option of clearing them through CME Clearing Europe instead of having to clear them via the CME clearing house in the US. "Being able to clear these contracts through CME Clearing Europe will be more convenient for customers in our European and Asian markets," a source at CME said.--Celestyn Wong, celestyn_wong@platts.com--Edited by Jeremy Lovell, jeremy_lovell@platts.com Request a free trial of: Platts SBB Steel Markets Daily Platts SBB Steel Markets Daily provides transparent daily and weekly assessments of iron ore, coking coal, coke, ferrous scrap and ferroalloys prices, plus insightful analysis and commentary on the day's market activities.
CME Clearing Europe, the European clearing house of the CME Group, will put up two new over-the-counter (OTC) iron ore contracts for clearing, according to an official announcement from the company. The London-based clearing house will begin Monday clearing the Iron Ore 62% CFR China (TSI) Calendar Swap and the Iron Ore 62% CFR China (TSI) Average Price Option. The two contracts are already being traded, but investors will now have the option of clearing them through CME Clearing Europe instead of having to clear them via the CME clearing house in the US. "Being able to clear these contracts through CME Clearing Europe will be more convenient for customers in our European and Asian markets," a source at CME said.--Celestyn Wong, celestyn_wong@platts.com--Edited by Jeremy Lovell, jeremy_lovell@platts.com
Platts SBB Steel Markets Daily provides transparent daily and weekly assessments of iron ore, coking coal, coke, ferrous scrap and ferroalloys prices, plus insightful analysis and commentary on the day's market activities.
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