SSY Futures concludes biggest ever Iron Ore futures trade

SSY, the world’s largest independent shipbroker has today announced that its commodities arm, SSY Futures has brokered the biggest ever trade in Iron Ore futures.

SSY Futures which is a leading player in the freight and commodity derivatives space concluded the transaction – rolling a five million metric tonne position from a 2023 prompt date to 2024, generating a total futures volume of ten million metric tonnes.  

The trade involved counterparties from both the physical and financial markets and was cleared by the leading exchange for iron ore trading – SGX, the Singapore Exchange.

Transactions of this nature are traditionally framed by experienced voice brokers who have wide reaching market contacts. As a result, they are able to efficiently construct a “block trade” which is then listed on an exchange, without impacting market volatility. This is regarded as a crucial aspect of the bespoke service provided by the voice broking community.

Speaking on today’s announcement, Jamie Pearce, Global Head of Derivatives at SSY comments; “As the market continues to develop, we are seeing more and more clients trade in large blocks and we believe that today’s transaction is an important milestone in an already active market. As a leading player in commodity derivatives, SSY Futures is the go-to broker for liquidity in trades above normal market size and can assist clients with significant positions to confidently transact when size and price are so market sensitive”.

 

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.

www.ssyglobal.com