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ICAP Shipping Announces Partnership With JOC

  • ICAP Shipping, the shipping arm of ICAP plc, the world’s leading interdealer broker, announced on February 15, 2012, a strategic partnership with The Journal of Commerce (JOC).Through this partnership ICAP Shipping and JOC will share derivative and physical trade market data, including ICAP Shipping’s Forward Curve on swap agreements settled against the Shanghai Containerised Freight Index (SCFI).Containerised freight swap agreements allow users to lock in future cash flows of containerised cargo. Prices of those derivative contracts will be published in The Journal of Commerce as well as on JOC’s website.
  • Together ICAP Shipping and JOC will publish a joint market report including U.S. government trade data sourced from PIERS, a UBM subsidiary, covering all major ports in the United States.Kai Miller, responsible for the development of ICAP’s Container desk said, “Our clients will receive essential market intelligence and will be able to base trade decisions on an unrivalled data source from the physical market. We are delighted to be strengthening our presence in the USA by working with an institution like the JOC.”Peter Tirschwell, Senior Vice President for Strategy for UBM Global Trade, said, “Swaps and index-linked container shipping contracts are playing an increasing role in global trade. This will be a major topic of dialogue at the upcoming JOC Trans-Pacific Maritime conference in Long Beach on March 5-7.”

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