Cleartrade Exchange has ruled out the creation of an integrated exchange encompassing trading and clearing, Financial Times reports. The group has cancelled its plan to build a merged exchange with the London Metal Exchange.
The Singapore-based exchange is seeking to expand in the over-the-counter (OTC) commodity derivatives markets, particularly freight and metals. Cleartrade is linked to three clearing houses, LCH.Clearnet, the Singapore Exchange and Nos Clearing, a Norwegian specialist commodities clearing house.
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