Baltic Exchange to Shutter Baltex
The Baltic Exchange will close its freight derivatives platform Baltex at the end of the year after a strategic review, the London-run business said on Monday.
Baltex was launched by the centuries-old Baltic Exchange in June 2011 as the first central electronic marketplace for freight forward agreements, which allow investors to take positions on freight rates at a point in the future.
Singapore Exchange completed its 87 million pound ($114.19 million) acquisition of the Baltic in November last year.
Reporting by Jonathan Saul
