FEX Global to launch Mysteel SEADEX Iron Ore Futures in Sept

FEX Global, an Australian-based derivatives marketplace, has announced to launch FEX Global Mysteel (SEADEX) 62 Iron Ore (AUD) Futures and Options contracts on September 11, marking the debut of the first global iron ore derivative contract based on a Chinese price index, as Mysteel reported on Tuesday.

The contracts use Mysteel SEADEX 62% Australian Fines CFR Qingdao as the settlement benchmark and will be denominated in Australian Dollars and traded in 50 tonnes per lot. Mysteel SEADEX 62% Australian Fines is one of Mysteel's iron ore indices that have been certificated by the International Organization of Securities Commissions (IOSCO) in 2018, and