SSY Futures Ltd reported 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.
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