Launch of new Supramax Timecharter and Supramax Option contracts in the LCH Freight (FFA) Clearing Service
LCH Circular No 3861
Service Circular No.
EnClear Circular No 454
23rd May 2017
All LCH CommodityClear Clearing Members
CommodityClear Members are advised that LCH will be launching a new Supramax 10TC Average futures contract and the associated Supramax 10TC Average Option contract on Friday 26th May 2017.
These new contracts will be settled against the new Baltic Supramax 10TC index, based upon the Tess 58 vessel and the average of 10 individual routes. The existing Supramax contracts (STC and STO) will continue to be cleared as now.
- The LCH contract specifications for the new contracts will be the same as the existing STC and STO contracts, but will be settled against the new index. Details can be found at http://www.lch.com/asset-classes/commodityclear/freight-ffas/products
- The LCH registration fee for the new Supramax 10TC futures and option contracts will be $8/lot, but a 50% discount will be applied in line with other freight fees.
- The contract code in ECS and ClearWay will be SPT for the Futures contract and SPO for the Option contract
For further information on the new Supramax physical routes and vessel, please contact the Baltic Exchange directly.
All Clearing Members already active on the FFA service will be automatically granted access to the new Supramax 10TC contracts
For any questions, please contact Isabella.firstname.lastname@example.org; +44 207 426 7460