GFI Group Inc. (NYSE: “GFIG”) is pleased to announce that GFI Group was distinguished by SGX AsiaClear with two awards: Top HRC steel derivatives IDB and Top thermal coal futures IDB.
This year, SGX AsiaClear included new awards in special recognition of the pioneering IDBs who supported their new products launched in the early part of 2014. These were determined by volume cleared from launch till 31 March 2014 and included HRC Steel derivatives and Thermal Coal futures.
Ron Levi, GFI Group COO, said: “We are very pleased to have received these prestigious awards that recognize our innovative spirit and the high standards we set for ourselves. I thank SGX AsiaClear for this honour and congratulate our iron ore and coal brokers in Asia and Europe for their hard work”.
SGX AsiaClear offers clearing services for over-the-counter (OTC) oil swaps and forward freight agreements and a suite of futures contracts (“AsiaClear Futures”), starting with Iron Ore and Oil, which are fully fungible with bilateral swaps currently cleared by the Exchange.
Headquartered in Singapore, SGX AsiaClear volume has exceeded US$300 billion since its launch. In 2012, a record 108.9 million tonnes of iron ore swaps were cleared in SGX AsiaClear. Over 90% of the world’s cleared iron ore swaps are cleared through SGX AsiaClear.
GFI Group offers competitive brokerage services in a variety of energy and commodity markets around the world, including iron ore and steel derivatives, electricity, coal, natural gas, biofuels, refined and crude oil, freight derivatives, precious and base metals, emissions and property derivatives.