Credit Suisse trades first coking coal swap

After the successful launch of iron ore swaps three years ago, Credit Suisse completes the "missing piece" by transacting a coking coal swap with a major coal industry player.

Credit Suisse trades first coking coal swap

Credit Suisse completed the first ever cleared coking coal swap transaction yesterday, in a development that should enable steel mills to hedge their exposure to their entire floating costs.

The closing of the transaction early yesterday morning was the culmination of two-and-a-half years of work to identify appropriate reference indices and sufficient liquidity, Kristian Thunes, Credit Suisse’s global head of freight and iron ore, told FinanceAsia. It marks one step closer to “eventually creating...

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