Iron Ore: New brokers and record trading

London, 25 June 2012

Trayport, a leading provider of energy trading solutions for traders, brokers and exchanges worldwide today announced a number of milestones in the growing iron ore trading market. Tullett Prebon has recently joined GFI and Simpson Spence & Young (SSY) in offering iron ore swap contracts  accessible through a single aggregated trading screen.   Also in June, globalORE launched its screen based physical iron ore market on the Trayport platform.

In support of increased trading activity, Trayport also provides a real-time STP Clearing Link to the Singapore Exchange (SGX) which clears 90% of global iron ore swaps.  On the 24th May the single largest cleared iron ore trade on SGX of 100,000 tonnes was processed via the Trayport Clearing Link.   In the same month, SGX saw a record number of cleared iron ore contracts, beating the previous record month of October 2011.

Carl Daucher, Head of Global Commodities, said, "Iron ore trading, both physical and financial, is a natural extension for our increasingly global footprint of coal and freight traders. Trayport offers a single point of access for efficient trading across the dry bulk and energy related markets.”

Ends --