NOS Clearing ASA, the Norwegian-based clearing house for freight derivatives, is opening an office in Singapore and is extending clearing to include more of Asian time zone trading hours.
The company says that, across Asia, the market for freight futures and options is growing at a record pace. In Asia, the fastest growing sector of both the dry bulk and tanker freight market is for cleared contracts.
It says that the growth is driven by a need for existing principals to be able to trade with many of the new players which are entering the market in Asia. With freight derivatives clearing from NOS, a freight trader may trade anonymously with guaranteed settlement.
“To support the massive growth in Asian freight trading, we believe that our investments in market infrastructure such as Asian time zone clearing will really help our members,” says CEO of NOS Clearing ASA, Morten Erichsen.
