January 10, 2022
Straits Financial Services Pte Ltd (“SFSPL”) was among the first brokers on launch day to trade and clear on behalf of our clients the CME Iron Ore China Portside Fines CNH fot Qingdao (Argus) Futures Contract launched by the Chicago Mercantile Exchange (“CME”).
“The Iron Ore derivatives markets have grown phenomenally in the last decade”, said Roger Quek, CEO for SFSPL. “The introductionof China Portside Futures gives the iron ore marketplace greater dynamism, allowing market participants to gain exposure to on-shore China Portside price trends for landed mainstream cargoes, and trade the spread against the existing seaborne (TSI) contracts. Straits has always been a market leader in this space, providing global market access through OTC broking and Clearing services to our clients in such niche markets.”
CME launched two new China portside iron ore futures contracts on January 10, 2022. The first internationally traded derivatives linked to China’s portside prices, these new contracts are specifically designed to help market participants manage their risk to the price of iron ore traded at Qingdao Port in China. They also represent the latest tools launched to establish a forward curve for a key transactional point of the ferrous metals supply chain, complementing the existing seaborne Iron Ore 62% Fe, CFR China (TSI) futures and options contracts in CME Group’s iron ore product suite.
For more information on the CME Iron Ore Portside Futures, please refer to the following link CME Portside Futures Frist Trades Press Release.
About Straits Financial
Headquartered in Singapore, Straits Financial Group is a brokerage house that offers a full spectrum of derivatives & OTC products, including trade facilitation for physical commodities. Established affiliate offices are in Chicago, New Jersey, Shanghai and in Jakarta. Straits Financial is a full Clearing Member of the Chicago Mercantile Exchange (CME), Chicago Board of Trade (CBOT), New York Mercantile Exchange (NYMEX), the Commodity Exchange (COMEX), CME Clearport, Dubai Mercantile Exchange (DME), CBOE Futures Exchange (CFE), and Asia Pacific Exchange (APEX). It is also the first batch of Overseas Broking Special Participant of the Shanghai International Energy Exchange (INE). Straits Financial offers clearing access to all major global commodity exchanges. For more information, visit www.straitsfinancial.com.