NASDAQ to launch steel index futures in November

NASDAQ to launch steel index futures in November

Financially settled contracts are for U.S. shredded steel scrap and iron ore CFR China.

October 2, 2015
RTGE Staff

The Nasdaq commodities exchange, Stockholm, is preparing to launch futures contracts for U.S. shredded steel scrap (Midwest U.S. Shredded Steel TSI Index Futures) and iron ore cost and freight China (CFR [cost and freight] China 62 Percent Iron Ore TSI Index Futures) in November 2015, followed by U.S. hot-rolled coil and other products in December 2015.

All contracts will be financially settled (no physical delivery) against The Steel Index indices. 

World Steel Exchange Marketing, a marketing partner of NASDAQ, says the combination of its marketing efforts, along with those of World Steel Dynamics, TSI/Platts and NASDAQ, and support from the steel scrap industry, should lead to a rapid ramp-up of steel scrap futures trading on the NASDAQ Commodities Exchange.

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