SSY, the world’s largest independent shipbroker has today announced that its commodities arm, SSY Futures, a leading broker in Battery Materials derivatives, has brokered the first CME cleared option in the fast growing Lithium Hydroxide Market.
The option, which covered against exposure to higher pricing in Q1 of 2024 was arranged between two participants in the Lithium Hydroxide futures market, one of which was a European Bank.
Speaking on today’s announcement, SSY Partner, Ben Taylor comments: “The rapid development of options trading in the Battery Materials market evidences the importance participants are placing in this dynamic and volatile market by managing their risk exposure via industry benchmark pricing mechanisms.”
Duncan Dunn, Senior Director, SSY Futures continues: “After twenty years of developing the product offering at SSY Futures, it’s great to see we’re still leading the way. With Carbon Offsets and Battery Materials joining our traditional freight and commodity offering, we are not only future proofing the business but aligning ourselves with a more sustainable future.”
The CME cleared options are priced against the Fastmarkets Lithium Hydroxide Index pricing basis CIF China, Japan and South Korea.
ENDS
SSY Press Contact: Michael Mervyn-Jones
E: m.mervyn-jones@ssyglobal.com
T: +44 (0)7702 696 306
About SSY
Established in 1880, SSY has grown to become one of the biggest and most trusted names in broking, operating around the world via its 24 local offices. Our 500 experts cover a range of major markets including Dry Cargo, Tankers, Derivatives, LNG, Sale and Purchase, Offshore, Chemicals, Towage and Ship Finance.
SSY has a global reach with offices in Athens, Copenhagen, Dubai, Geneva, Genoa, Hamburg, Hong Kong, Houston, Kristiansand, London, Madrid,
Mumbai, New York, Oslo, Rio, Seoul, Shanghai, Singapore, Stamford-USA, Sydney, Tokyo, Vancouver, Varna, Zug.
Articles
You may also be
interested in
View all
Get in touch
Contact us today to find out how our expert team can support your business