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SGX extends freight derivative clearing discounts

SGX extends freight derivative clearing discounts
The Singapore Exchange (SGX) has extended its discount scheme for clearing of freight derivatives for six months.

Discounted clearing fees for freight derivative products, which were due to expire at the end of June, have been extended for six months till the end of 2015.

“Under the discounted clearing fee programme, SGX will charge a flat rate of $4.50 per lot (before GST) except for those products whose standard rates are lower than the discounted fee which are SGX Baltic Handysize Time Charter Average Futures/FFAs and Options on Handysize Time Charter Average Futures/FFAs. These will continue to be charged at their lower fees,” SGX said.

Discounted clearing fees apply to all market participants and clearing members are required to pass on discounts to end clients.