FIS and LCH.Clearnet launch clearing for Fertilizer Swaps

摘要

FREIGHT INVESTOR Services (FIS), the derivatives broker and LCH.Clearnet Ltd will launch an OTC clearing service for the fertilizer swap market on October 16, 2009 in a move that will increase transparency and liquidity and greatly reduce counterparty risk, the companies said in a joint statement. As many of our readers know, the FIS Fertilizer Swap is a cash-settled paper trade settled against the Fertilizer Index. The Fertilizer Index is produced weekly and uses an average of prices published by three different international fertilizer markets and pricing intelligence publications: FERTILIZER WEEK, Fertecon and FMB.