London - Reuters (LSE: RTR, NASDAQ: RTRSY) today announced that it has as today signed an agreement with the International Maritime Exchange (Imarex) to display freight futures prices on Reuters premium information product for finance professionals, Reuters 3000 Xtra.
Imarex is the central screen-based market place for freight derivatives where principals and brokers now trade standardised freight futures and options electronically with instant clearing. Imarex trading members include the world's largest banks, commodity traders, shipping and oil companies.
Tom Gros, Global Head of Commodities & Energy at Reuters, comments: "Freight is one of the most exciting emerging markets around and we are very pleased to work with Imarex, a market leader in this field."
The freight futures market is evolving rapidly with new companies entering, with growing demand for timely information among commodity traders, fund managers and shipping professionals.
Mikal BÃ¸e, Director of Information Services at Imarex said: "It is our strategy to get our forward curves out to as a large an audience as possible because we believe this will attract most new participants into the market. Working with Reuters is a cornerstone of that strategy."
Reuters 3000 Xtra is a high-speed, high-performance information service for financial professionals. It offers the full breadth and depth of domestic and international cross-asset information, as well as sophisticated analytics and functionality for financial market professionals.
Reuters 3000 Xtra will carry daily forward curves on the 19 Imarex freight routes for both the tanker and the dry cargo market. In addition, near-live snapshots of the most liquid contracts and historical datasets on all contracts will be available to subscribers at a small additional cost.