LCH.Clearnet Limited (LCH.Clearnet), the global leader in freight clearing with 85% of all dry cleared volumes, is offering free clearing for FFAs and Iron Ore swaps for the month of December. For one month clients will get all the benefits of clearing, such as reduced counterparty risk, position netting and guaranteed payment, at no cost.
Isabella Kurek-Smith, director, energy and freight services said: "As a largely user owned organisation LCH.Clearnet is solely focussed on delivering value to its clients. Free clearing is our way of thanking the market for all its support this past year."
During 2009, LCH.Clearnet volumes have accounted for 80% of total volumes in the dry market. Cleared volumes in November have so far reached 125,000 lots with volumes throughout the year averaging at 90,000 lots. Open interest currently stands at approximately 400,000 lots.
LCH.Clearnet is dedicated to continuing to provide cost effective quality clearing to all the markets it serves and to working in partnership with our markets for their long term benefit.