Cleartrade Exchange (CLTX), the Singapore-regulated futures exchange, has unveiled the Cleartrade Exchange Data Centre (CDC), a web-based service that delivers unprecedented data transparency on iron ore and freight derivatives markets.
The CDC aggregates freight and iron ore swaps and options data from the major clearing houses - SGX Asiaclear, NOS ASA, and LCH.Clearnet - into a single location, enabling users to see daily traded volumes by product as well as high and low prices and open interest on a daily basis.
A new wave of banks, trading houses, ship-owners, as well as commodity producers and end-users are evaluating swaps and options, as the global economy pulls out of recession. The timing of the launch is designed to capitalise on growing interest among new market players in trading these highly liquid and volatile markets.
Richard Heath, Head of Products at CLTX, said: "Until now, reliable trade volume data has been split across a number of clearing houses for both iron ore and freight and this needed to be aggregated before it could be properly analysed. We have listened closely to what the market needs and the result is a unique product which puts high-quality data in the hands of traders and those still evaluating the opportunity that these products present."
A key feature of the CDC is the interactive charting tool; users can also download the data into individual Excel spreadsheets. Iron ore derivatives data is available as of February 19th 2013, with FFA and freight options data to follow in the coming weeks. The full CLTX product suite, including fertilizer swaps, bunker swaps and steel swaps will be listed in the coming year.
Richard Heath added: "We believe the timing of the CDC is perfect in helping potential market participants make decisions about the timing of their market entry. Iron ore derivatives are still just 20% of the underlying seaborne trade and have massive potential to grow further this year, while FFA levels and volumes are recovering after four years of capacity oversupply and suppressed prices. The data needed to get into these markets has been very fragmented until now, but this is the perfect opportunity to evaluate the market and get involved."