SSY Futures Ltd confirms first competitively brokered trade in the new Metal Bulletin 65% Iron Ore Option contract
13 December 2021
SSY Futures Ltd is pleased to report that it has arranged the first competitively brokered trade in the new Metal Bulletin 65% Iron Ore Option contract. The trade was for settlement in February 2022.
SSY Futures Ltd is well known for its core area of Forward Freight Agreements and derivatives in; energy and power; the steel complex and base metals, so the MB 65% Options have been an area of focus for them. The contract is listed and cleared by SGX.
"We are extremely happy to have brokered, what we believe to be the first structural trade in MB 65% Options on Futures today cleared on SGX. We’re particularly encouraged with the interest expressed from commercial counterparts, who will also play a valuable role in the development of this burgeoning market.
We are confident that as has been the case with the launch of the underlying futures on MB 65%, this new option contract will help add a fresh layer of liquidity to the current 62% products we offer clients, as traders play the spread between the two, as well as increase the flow on the 65% underlying futures as traders delta/gamma hedge their new positions.’’- George Bushnell, Director of SSY Futures Singapore PTE Ltd.
For more information please contact - George Bushnell on +65 6854 7126 or email@example.com
For more information on SSY Futures’ broking services and daily reports contact:
Duncan Dunn on +44 20 7977 7597 or firstname.lastname@example.org
SSY Futures Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and registered in the United States with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).
The material contained herein is for information purposes only and should not be seen as a trading recommendation or solicitation of trade.
Simpson Spence Young press contact
Media Relations: Issued by Navigate PR on behalf of Simpson Spence Young. For further details please contact Alex Wood.
T: +44 (0)77 3053 5104
About SSY Futures Ltd
SSY Futures Ltd is one of the largest Dry Bulk and Freight derivatives brokerages in the World, with brokers in London, Singapore, and Stamford. SSY Futures specialises in the steel complex and base metals derivatives as well as Forward Freight Agreements, with a new energy business targeting gas and power contracts. SSY Futures is a wholly owned subsidiary of Simpson Spence Young.
About Simpson Spence Young
Established in 1880, Simpson Spence Young (SSY) is the world's largest independent shipbroker. Our 400 employees cover each major market including dry cargo chartering, tanker chartering, LNG chartering and projects, ship sale and purchase, chemical chartering, consultancy and research, derivatives and towage.
SSY has a global reach, with offices in London, Singapore, Houston, Shanghai, Stamford - USA, Sydney, Geneva, Bergen, Hong Kong, New York, Mumbai, Madrid, Oslo, Sao Paulo, Copenhagen, Tokyo, Vancouver, Dubai, Varna and Zug.