Cleartrade Exchange has appointed freight and commodity derivatives brokerage, Freight Investor Services (FIS), as a broking member. FIS has launched the Cleartrade Exchange broking screen to all in-house desks and has merged Cleartrade Exchange’s order and credit management functionality into its processing of over-the-counter (OTC) FFA trades given up for clearing. The exchange offers participants in freight and commodity markets electronic order input, management and processing of OTC swaps with straight-through processing to nominated clearing houses. The exchange is appointing members from the commodity trading, broking finance and clearing communities to deliver improved post-fixture processing and credit risk management.
Click here for the release from Freight Investor Services.