Independent clearinghouse LCH.Clearnet began clearing API 2 and API 4 over-the-counter (OTC) coal swaps contracts today to meet growing international demand and enhance liquidity in global coal markets. The contracts will settle against the underlying API 2 and API 4 index prices published in the Argus/McCloskey's Coal Price Index Report. The move by the London-based clearinghouse comes just weeks after Chicago-based exchange CME launched four new OTC coal swaps contracts for settlement against the API 2 and API 4 indexes published in the Argus/Mc- Closkey report.
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