ICAP Energy leads the way in new Iron Ore derivatives contract

25 March 2015

Singapore/London/New York, 25 March 2015 – ICAP Energy, the energy business of ICAP plc, announces today that it has successfully traded a newly launched lower-grade iron ore derivatives contract on the Singapore Exchange (SGX). The SGX 58% FE Metal Bulletin index was launched on 9 March and ICAP Energy was one of the first brokers to execute a trade on the launch day.

The trade occurred between one of ICAP Energy’s international commodity trading house clients and a Chinese steel mill. The April contract was traded at $49 per tonne cfr for 20,000 tonnes, with a spread of $8 per tonne against the TSI 62% FE index. This transaction makes ICAP Energy one of the pioneers of this product and at the forefront of iron ore market development.

Alex Newman, Head of Coal & Iron Ore, ICAP Energy, Asia Pacific, said: “We welcome the launch of the 58% Metal Bulletin FE index which reflects changes to the physical supply and demand landscape. We believe this product will offer participants the opportunity to better manage their quality basis spread, while also enabling others to express their iron ore pricing expectations in a wider and more accurate context".

The SGX offers clearing services for two 58% FE iron ore derivatives contracts. The swaps and futures contracts are cash-settled against either Metal Bulletin’s 58% FE Premium Index or TSI’s 58% FE iron ore index.



Jasmine Yap Citigate Dewe Rogerson (Asia) +852 3103 0108
Theresa Tang Citigate Dewe Rogerson (Asia) +852 3103 0111
Bryony Scragg ICAP Communications UK +44 (0) 20 7050 7124
Guy Taylor ICAP Communications US +1 201-469-5319

About ICAP Energy

ICAP Energy, a subsidiary of ICAP plc, is an innovative leader in the energy and commodities industries, providing full-service and over-the-counter broking and advisory capabilities to a broad spectrum of businesses throughout the world. The group has approximately 300 employees located in London, North America, Singapore, Sydney, Geneva, Bergen, Amsterdam and Madrid. ICAP Energy offers real-time price discovery and execution services in crude oil and oil products, biofuels, agriculture and softs, precious metals, iron ore, electricity, natural gas, coal, emissions, freight and physical products. For more information go to www.icapenergy.com.

About ICAP

ICAP is a leading markets operator and provider of post trade risk and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through our post trade risk and information services we help our customers manage and mitigate risks in their portfolios. For more information go to www.icap.com.

Contact Us

Bryony Scragg
Head Of Media Relations
bryony.scragg@nex.com +44 20 7818 9689 LinkedIn
Bryony scragg
Casey Sheets
Media Relations (US)
casey.sheets@nex.com +1 212 521 4627 LinkedIn
Casey Sheets


06 February 2015

ICAP Energy voted “Overall Broker of the Yea...

London/Louisville, 6 February 2015 – ICAP Energy, the energy business of ICAP plc, a...

Read More
21 August 2014

ICAP Energy launches global Coking Coal

First contract completed and cleared on CMESingapore/Hong Kong/London/New York, 21 August ...

Read More
29 May 2014

ICAP Energy and Gasteam Announce Partnership

Houston/Louisville, May 29, 2014 -- ICAP Energy, the energy business of ICAP plc, and Gast...

Read More
27 May 2014

ICAP announces management changes in Energy Global...

London and Louisville, 27 May 2014 – ICAP plc (IAP.L), a leading markets operator an...

Read More


Browse media and documents
which are available to download.

Images & Video


Keep up with the latest coverage
of NEX and its industry experts.

See our insights