EEX Group has successfully implemented an initiative to move all C4TC positions to the equivalent C5TC positions, thereby closing all open interest in existing C4TC contracts.
In doing so, EEX Group has become the only exchange platform offering Dry Freight FFAs to facilitate this move and the first to close all C4TC open interest, thereby helping the industry to transition to the new liquid benchmark which in turn allows clients to run all Capesize positions from a single book.
The EEX Group initiative, which included a fee waiver to facilitate the transfer, comes as a result of an industry shift to move trading away from the old C4TC contract to the new C5TC contract which better reflects the current vessel type and common routes in the physical market.
“Our transfer initiative to the new C5TC benchmark has been very well received by the market and clearly demonstrates our continuing commitment to support our customers in the freight industry,” comments Dr Egbert Laege (pictured), Member of the EEX Management Board.
