Monday, 06 Jun 2011
The volume of iron ore swaps cleared on the Singapore Exchange in May reached a record 6,905 contracts, up 56% on the previous record hit in April 2010.
Open interest at the end of May climbed to 5,667 contracts, more than triple a year ago.
The SGX clears around 80% of iron ore swaps globally.
Exchanges around the world are vying to become the benchmark hedging tool for the USD 100 billion seaborne iron ore market. (Sourced from Reuters)
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