ASX to launch coal futures on July 7
Australian Securities Exchange (ASX) has received regulatory clearance to launch its physically delivered thermal coal (FOB Newcastle) futures and options contracts on July 7.
The launch will provide the first exchange and clearing house mechanism for thermal coal in the Asia-Pacific region, according to ASX.
"Independence from editorial indices and prices derived from the OTC market will underpin the robustness and sustainability of ASX's thermal coal product offering," said a statement from the exchange.
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