A potential lifeline for the Baltic Exchange’s heavily loss-making Baltex electronic futures trading platform is under negotiation with global financial clearing house LCH.Clearnet but some influential shipbrokers and freight traders remain deeply sceptical that it can be saved.
Under the planned partnership deal, LCH.Clearnet will pay the Baltic fees to “futurise” over-the-counter (OTC) freight derivatives traded through the Baltex screen, which has lost the London freight market over £2m in its first three years of operation — to the anger of some shareholders.
Outgoing
