A unit of shipping services group Clarksons has begun iron ore swap trading and expects to see the largest growth from its Chinese clients and freight operators initially, the company's chief executive told Reuters on Wednesday.
Clarkson Securities Limited, the futures broking arm of the leading ship broker, has been offering cash-settled iron ore swaps since earlier in September.
"We have a huge number of clients that look at iron ore from the freight perspective," Chief Executive Alex Gray said in a telephone interview.
"We are interested as a group to move into the broking of other commodities and iron ore is a good fit for us."
Source: Reuters
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