Imarex to launch electronic Time Charter Equivalent contracts
Norwegian freight derivatives exchange Imarex will introduce the first electronic Time Charter Equivalent (TCE) contracts in October, the company has announced.
From 1st October, cleared tanker freight futures will be traded in USD per day. This is the first time clearing has been available for TCE contracts and the first time they have been electronic. All transactions traded through Imarex are cleared by the Norwegian Futures and Options Clearinghouse (NOS.)
“Physical time charters are traded in USD per day and listed tanker companies report their results in USD per day. This has caused an increasing number of market participants to ask for the
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