UBS has extended the activities of its exchange-traded derivatives commodities team in Singapore to include iron ore which is used to produce steel and related commodities, such as coking coal and steel.
For the time being, the team is servicing companies with exposure to iron ore, steel and freight, with banks providing pricing and liquidity. But it hopes that fund managers too will use the capability in the future.
Besides offering established clearing activities, the team has been beefed up to meet growing demand for over-the-counter and exchange-listedtraded commodities.
The section is headed by Terence Noe in Singapore. In London, the team is headed by David Cunningham and supported...