Investment bank Macquarie Group said Wednesday it will start clearing on the Nasdaq OMX Commodities Europe exchange, which offers a range of energy and ferrous metal derivatives contracts.
Macquarie Bank International has become a General Clearing Member of the Nasdaq OMX Commodities Europe exchange, it said in a statement.
"GCM status strengthens Macquarie's position as a full service provider in European commodity trading and offers clients a comprehensive solution for one of the most important exchanges in Europe," the Australia-based bank said.
Macquarie will offer clearing for clients and non-clearing members across a full range of products cleared on Nasdaq OMX Commodities Europe, it said.
Nasdaq OMX Commodities offers clearing on hot-rolled coil steel in the US and ASEAN markets, China-delivered iron ore, US shredded ferrous scrap and Australian premium hard coking coal contracts, all with settlement on indices published by The Steel Index. TSI is a specialist pricing service owned by S&P Global Platts.
The exchange also offers freight, fuel oil, natural gas, power, carbon and wind index contracts.
