FIS tops SGX FFA league

Freight Investor Services (FIS) has been named as Singapore Exchange (SGX) AsiaClear’s top FFA broker for 2009.

It came out top ahead of SSY Futures and DBS Vickers Securities in second and third places respectively.

Launched in May 2006, SGX AsiaClear is the Singapore Exchange’s OTC Clearing Business and Facility for energy and freight derivatives.

The John Banaszkiewicz-led company was also named as the SGX AsiaClear’s top Iron Ore Brokers for last year.

London Dry Bulk came in second place closely followed by GFI Group in third.

However, FIS could only manage second place as the top SGX AsiaClear iron ore inter-dealer broker for the first half of 2010.

It was pipped to the top spot by London Dry Bulk, with GFI Group coming in third for the January to June 2010 period.

The Singapore Exchange said OTC iron ore swap cleared volumes reached a record quarter in the three months to June 2010.

Volumes were over 5.3mt, more than 46% higher than the first quarter of 2010. It also saw a record high volume of 2.2mt in April.

SGX AsiaClear recently announced that it would offer over-the-counter clearing services for container swap contracts from August.

The services will cover four major routes from Shanghai to Europe, the Mediterranean, the US West Coast and the US East Coast.

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