News Column

China 1st RMB Iron Ore, Steam Coal Swaps Clearing Completed

August 4, 2014

SHANGHAI, August 4, SinoCast -- The Shanghai Clearing House launches renminbi iron ore swap and renminbi steam coal swap central counter party clearing businesses, China's first OTC bulk commodity financial derivative clearing businesses, on current FFA central counter party clearing business platform starting August 4.

Shanghai Pudong Development Bank completes China's first OTC renminbi iron ore swap and renminbi steam coal swap clearing on August 4. This is China's first brand new financial derivatives tool adopting OTC matchmaking trading and central clearing in the house by taking the renminbi iron ore index as cash clearing basis.

The renminbi iron ore and steam coal swaps mark that there are bulk commodity OTC tradings in China and financial derivatives tools meet entity enterprises' demands for hedging.

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Source: Sinocast Metals, Mining & Chemicals Beat (China)

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