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PrintFreight Investor Services has been named top iron ore interdealer broker for the fourth year running by Singapore Exchange as well as top FFA IDB in the SGX AsiaClear Awards 2012. The awards recognise FIS as the leading broker by volume for both iron ore and freight swaps in 2012.
Mr John Banaszkiewicz MD of FIS said that “FIS is extremely proud to have won these awards as we continue to build on our status as the world’s leading broker for iron ore and freight swaps. We are continuing our efforts to drive liquidity in iron ore and freight and we would like to thank our customers around the world for their continued support.”
Cleared volume for SGX’s iron ore and swap contracts hit a record high of 18.2 million tonnes in January 2013, beating the previous record set in September 2012 by 145,500 tonnes. Despite low freight rates, FFA volumes remain robust and are set to expand as more participants look to manage their freight risk using swaps.
Mr Banaszkiewicz added that “We are confident that growth in the use of both iron ore and freight swaps will continue. I just hope that my English football team, Burnley FC, can score four times this weekend as well!”
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