SGX Iron Ore Contracts Set Multiple Records in Q1 2013
SGX Iron Ore Swap contract has set a new monthly record volume of 18.5 mil mt (36,995 lots) in March 2013, surpassing the previous record of 17.7 mil mt (35,414 lots) set in September 2012. Quarterly volume for Q1 2013 set a new record of 51.5 mil mt (102,978 lots). This is a 19.6% increase over the previous record of 43.1 mil mt (86,138 lots) set in Q3 2012.
Total Iron Ore swap volume cleared on SGX in Q1 2013 accounts for 97% of the global cleared volume for similar contracts. SGX Iron Ore Swap open interest also reached an all-time high of 16.5 mil mt (33,081 lots) on 27 March 2013.
Cleared volume for SGX Iron Ore Option contracts also continued to gain support from market participants who wish to enjoy portfolio margin saving for swap and option positions. Total SGX Iron Ore Option volume cleared in Q1 2013 reached a record high of 3.16 mil mt (6,328 lots), accounting for 68% of the global cleared volume for similar contracts. Month-end option open interest rose to 3.48 mil mt (6,966 lots) on 29 March 2013.
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