ICAP Opens Iron Ore Swaps And Options In London, Singapore

Reuters reported in an effort to take advantage of liquidity in the iron ore market, ICAP has opened an iron ore swaps and options desk in London and Singapore.

As quoted in the market news:

ICAP use to have an iron ore desk some years ago, but thebusinesspetered out until the recent decision to establish a London and Singapore-based desk.

Iron ore swaps cleared by Singapore Exchange hit a record volume of 17.7 million tonnes in September, compared with a monthly average of approximately 7.2 million tonnes in 2011.

Click here to read the full Reuters report.