SGX eyes iron ore futures as US tightens OTC rules
Dec 14, 2012 | 09:26 AM
| Michelle Madsen
Tags
Singapore Exchange,
iron ore,
iron ore futures contract,
over-the-counter trading,
OTC rules,
Commodities Futures Trading Commission,
CFTC,
derivatives clearing
Michelle Madsen
LONDON — The Singapore Exchange (SGX) plans to launch an iron ore futures contract in January as the United States tightens its over-the-counter (OTC) trading rules, market sources told AMM sister publication Steel First.
The SGX is the OTC iron ore market’s most popular clearing venue, but isn’t yet registered with the U.S. Commodities Futures Trading Commission (CFTC) as a derivatives clearing organization, meaning U.S. companies won’t be able to trade on the exchange when the new rules come into effect.....
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