Credit Suisse Does First Brokered Coking Coal Swap, FIS Says
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Credit Suisse Group AG concluded the world’s first brokered coking coal swaps trade, London-based Freight Investor Services Ltd. said.
The deal is the second over the counter swaps trade for the steel-making raw ingredient, according to John Banaszkiewicz, managing director of the freight and commodities brokerage. Credit Suisse completed the first cleared coking swap transaction for 60,000 metric tons directly, the bank said on Aug. 29.