Non-Ferrous Exchange Markets (NFEx Markets) is on track to launch in 2018 but is yet to make a decision on its clearing house – a decision chief operating officer Mark Bradley says is firmly in NFEx’ hands.
“We are still talking to a number of tier one clearing houses and the choice for us of which one to go with is still in the balance,” Bradley said in an interview with Metal Bulletin.
“Ultimately the choice is ours. We will continue our discussions with multiple clearing houses and the best commercial choice will be made,” he added.
LME Clear was originally one of four options for the new venue, Metal Bulletin understands. The others are ICE, SGX and CME Group.
“We are not waiting around for a deal to be put on the table; we are going to attract business from parts of the market that aren’t going into the clearing at the moment and we are happy to bring that to any clearing house,” Chris Evans, commercial director at NFEx, said…