Iron ore swaps have traded consistently on the LDB-X trading platform launched by London Dry Bulk (LDB).

The iron ore swaps market has progressed in the level of its
sophistication. Since the launch of LDB-X, the electronic trading
platform allowing trading of iron ore swaps and steel futures, market
participants have been actively posting bids and offers. Last week,
18/11/2009, the platform traded for the first time with a Q1 2010 iron
ore swap contract being traded.

LDB continues to work prices in both the OTC market and on its
platform, and at present voice brokers the platform, often adjusting
pricing on the behalf clients. Since the first trade the first there
have been a number of additional trades all of which clients executed
independently through the platform. Today saw the first instance where
an Asian counterparty traded independently through the platform without
the assistance of LDB’s brokers.

November has seen significant volume in iron ore swaps with the
month-to-date volume being estimated as greater than 1 million tonnes.
“The month of November has shown that this market is growing and
continues to see new entrants and hurdles crossed,” Clive Murray CEO of
London Dry Bulk commented. “We are very excited to keep seeing these
developments and also to see activity grow on our LDB-X platform,” he
says.

London Dry Bulk Ltd. (LDB) was formally established in March 2009 as a
subsidiary of London Commodity Holdings in order to move the iron ore
activities into a specialist business unit. The company is
headquartered in London, UK, with representation in India, China, Hong
Kong and South Africa. LDB facilitates the trading of both physical
iron ore and iron ore swaps by providing inter‐dealer broking services.

Source: London Dry Bulk

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