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Saturday, August 15, 2020

Cme Group News

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First LNG FFA Trades via CME Group

Affinity (Shipping) LLP, a shipbroker, said this week in a statement it had facilitated the first trades in CME Group's liquefied natural gas (LNG) freight futures contracts.The trades involved French energy major Total and commodities trader Trafigura and were submitted for clearing using CME Group's ClearPort system, Affinity saidEarlier in December, CME Group said it would be the first futures exchange to launch trading of three LNG freight futures contracts in response to growing demand for hedging tools on the LNG market"Since we arranged the initial bilateral LNG forward freight agreemen

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CME Adds Two Delivery Points to WTI Houston

CME Group on Thursday said it would add two more delivery points for its WTI Houston crude futures contract, pending regulatory review, as it seeks to provide customers with additional options to hedge physical price risk.* Beginning with the March 2020 contract, customers can take delivery of U.S.

ICE, Magellan to Offer Dock Capacity to Houston Oil Futures Customers

Intercontinental Exchange Inc and Magellan Midstream Partners LP said on Wednesday they would auction dock capacity at Magellan's terminals in Galena Park and Seabrook, Texas, for holders of ICE's Permian West Texas Intermediate (WTI) crude futures contracts.The monthly auction process will allow customers who purchase an ICE Permian WTI crude futures contract, deliverable at Magellan's East Houston terminal (MEH), the option to load crude directly onto a vessel at Galena Park and Seabrook dock facilities for export…

China's ShFE plans commodities platform to set physical prices

Shanghai Futures Exchange (ShFE) said on Tuesday it would launch China's first real-time platform for trading physical commodities from copper to chemicals, as it seeks to improve transparency and challenge rivals in the global futures market.The platform will set physical premiums and discounts for cash-settled futures warrants depending on the commodity's location, quality and brand.In commodities trading, buyers typically pay a premium on top of or receive a discount from the…

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Data Overload: Commodity Hedge Funds Close as Computers Dominate

"Chocfinger" made his name and his money by taking bold bets on cocoa markets. But after nearly four decades of trading, sometimes winning, sometimes losing, Anthony Ward threw in the towel. Ward blames the rise of computer-driven funds and high-frequency trading for forcing him and some other well-known commodities investors to close their hedge funds and look for opportunities where machines can't make a difference. While computerised trading is not new, Ward and others argue…

File photo: Nordic Bulk Carriers

Baltic Exchange Succumbs to Singapore as Shipping Turmoil Deepens

The crisis in global shipping and a tax exodus by big Greek vessel owners have helped finally seal the fate of London's Baltic Exchange after at least three approaches to buy it over the last six years of its near-three centuries history. Some 95 percent of shareholders voted on Monday in favour of a takeover deal from Singapore Exchange, valued at 87 million pounds ($112.87 million), trumping more than one effort from the London Metal Exchange to snap it up. "For Baltic shareholders it does release value…

Singapore Exchange Prepares Offer to Buy Baltic Exchange

Singapore Exchange Ltd (SGX) is readying a formal offer to buy London's Baltic Exchange following months of discussions that culminated in exclusive talks between both parties, sources familiar with the matter said on Tuesday. Founded in 1744, the privately-owned Baltic Exchange is no longer a forum for chartering vessels but owns benchmark indexes for global shipping rates and provides a trading platform for the multi-billion dollar freight derivatives market. The sources said both sides had reached key milestones for a deal to proceed and that SGX was getting ready to make a formal offer.

Photo by Baltic Exchange

China Merchants Offers to Buy Baltic Exchange

China Merchants Group has made an informal bid for London’s Baltic Exchange, says a report in Reuters. The State-run conglomerate has made an informal offer through a subsidiary, China Merchants Securities. An acquisition of the Baltic, which was founded in 1744, would give the Chinese conglomerate ownership of the industry's benchmark indices - which could be further commercialized - and greater access to the multi-billion dollar freight derivatives market. It emerged in February that the Baltic Exchange…