News

21/01/25

SSY Futures continues to break new ground with 1st competitively voice-brokered TAS trade in SGX 62% Iron Ore Futures

SSY, the world’s largest independent shipbroker has today announced that its commodities arm, SSY Futures, a leading broker in commodity derivatives, has successfully executed the first competitively voice-brokered Trade-At-Settlement (TAS) transaction in SGX 62% Iron Ore Futures.

This landmark trade for Feb 2025 was concluded between a physical trader and a proprietary trader with SSY Futures taking a leading role in connecting counterparties to provide optimal trading outcomes.

Today’s announcement underscores both the growing demand for innovative trading solutions in the Iron Ore derivatives market and the increasing sophistication and depth of the SGX 62% Iron Ore Futures market.

Commenting on the news, Jamie Pearce, Global Head of Derivatives and SSY Partner comments; “This landmark TAS trade highlights SSY Futures’ ability to connect diverse market participants, providing vital liquidity and tailored solutions that enhance price discovery and risk management. TAS trading is a significant step forward in the evolution of the SGX 62% Iron Ore Futures market, offering precision, stability and efficiency for our clients. We see this as a pivotal development, reinforcing our commitment to driving innovation and creating value”.

Also speaking on today’s announcement, Tan Tee Yong, Head of Commodity Derivatives, SGX comments: “The successful launch of TAS on the SGX 62% Fe Futures allows trade execution at or near the settlement value at any point of the trading day, a key development in enhancing price discovery, efficiency and growth of Iron Ore as a global commodity. We would like to thank all our partners, including SSY, in supporting the roll-out of the new functionality”.

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