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Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE


COALspot.com - The Exchange has announced  that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 April 2013.

According to a note from exchange, the SGX API 8 CFR South China Coal Swap will replace the existing SGX OTC CFR South China Coal Swap which was based on the IHS McCloskey/Xinhua Info link South China 5,500 kcal/kg NAR CFR Marker.

The new contract will be based on the API 8 index which is a combination of (1) IHS McCloskey/Xinhua Info link South China (5,500 kcal/kg NAR) CFR Marker as published by McCloskey; and (2) Argus 5,500 kcal/kg CFR South China Price Assessment as published by Argus Media.

This is in response to the increasing importance of coal trading and risk management activities in Asia based on the API 8 index, SGX exchange said in it note.

The API 8 is a weekly price assessment published at the end of the week.



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