SGX Iron Ore Swap hits record high

A whopping 108.9 million tonnes.

According to the release, Singapore Exchange (SGX) has cleared a record high of 108.9 million tonnes (217,803 lots) for its flagship iron ore swaps in 2012. This is 2.5 times of the 43.2 million tonnes (86,391 lots) cleared in 2011.

Open interest reached an all-time high of 12.3 million tonnes (24,627 lots) on 28 Dec 2012. SGX remains as the global market leader and clearing house of choice for iron ore swaps clearing with a market share of over 95%.

The newly launched SGX Iron Ore Option contract has also seen good support from market participants with 758,000 tonnes (1,516 lots) cleared since its launch on 10 Sep 2012. This is equivalent to about 30% of the global cleared volume for the same period.

SGX AsiaClear offers a comprehensive suite of OTC commodities products covering bulk commodities, energy, freight and rubber. The overall OTC volume cleared on SGX AsiaClear has reached a record high of 337,702 lots in 2012. This is a 77% increase over the previous year. 

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