SGX to use Dow Jones coking coal index for new contract

Dow Jones said on Thursday that it has reached an agreement with the Singapore Exchange that would allow the bourse to reference its coking coal index for a new derivative contract.

Dow Jones’ McCloskey Australian FOB Second-Tier Hard Coking Coal Index will be used for the new swaps and futures contracts, the company said in a statement on its website.

Reuters reported in June SGX’s plan to launch new coking coal and steel futures contracts, as part of a push to broaden its product offerings and reflect trade flow changes.

The new coking coal futures contract is scheduled to be launched in September, subject to a regulatory process, SGX told Reuters.