As per reports and information from our sources,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.
Credit Suisse completed the first ever cleared coking coal swap transaction yesterday.