UNITED KINGDOM January 21 2015 9:20 AM
LONDON (Scrap Register): Freight Investor Services has once again been named the best performing inter-dealer broker in iron ore swaps and options by Singapore-based SGX AsiaClear.
FIS took first prize as Top Iron Ore Futures/Swaps IDB for its work with counterparties trading iron ore derivatives, in a year that saw big changes in the ferrous products complex.
FIS was also awarded Top Iron Ore Options IDB by SGX, reflecting the work of its dedicated options team in growing the market for options products by expanding the number of Asian counterparties.
John Banaszkiewicz, Managing Director of Freight Investor Services, said “2014 has been a rollercoaster year for the iron ore market, with the spot price halving alongside the full emergence of iron ore futures contracts. During this time, FIS has held to its principles of understanding our client’s needs and providing them with superior service. This is a highly competitive market which demands an exceptional combination of experience and expertise and we are proud to be recognised for being the global leader in dry bulk derivatives.”
The SGX AsiaClear Awards are made based on the volume of derivatives brokered for the relevant product in the calendar year 2014. The awards will be given out at the SGX AsiaClear awards night on 13 May 2015, as part of Singapore Iron Ore Week.
FIS is also in pole position to take first place in a further award - Top Coking Coal IDB – given for the highest volume traded between August 2014 and March 2015, which will be announced in April.
Rory MacDonald, Product Development Manager, Freight Investor Services, said “FIS, through our offices in Shanghai and Singapore, has been present in Asia for many years and as the market has evolved, we have led the way, supporting the launch of new cleared products for coking coal (Premium Hard Coking Coal, CFR China and FOB Australia) and for HRC steel (CFR ASEAN HRC). SGX shares our attitude to innovation and has once again recognised our leadership in the ferrous products space.”
