Spectron Launches Clearing For OTC Soft Commodities Swaps
March 12 2009 - 9:18AM
Dow Jones News
Brokerage house Spectron Group Thursday said it has launched
clearing facilities for over-the-counter swaps in sugar, coffee and
cocoa.
The swaps are being cleared by ICE Clear US, a unit of the
InterContinentalExchange Inc. (ICE).
"There certainly appears to be demand for OTC clearing among
softs market players, and we hope that offering this facility will
help draw in new market entrants and stimulate increased market
liquidity," Drew Stephens, managing director of Spectron Group,
said.
Last month Spectron officially launched its soft commodities and
agricultural products desk, covering the sugar, wheat, coffee,
cocoa, corn and soybean swaps and options markets. The London-based
desk covers U.S. and European time zones.
Company Web site: http://www.spectrongroup.com
-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328;
alex.macdonald@dowjones.com