Agora-X Will Trade OTC Grain Swaps Via CME ClearPort

Agora X, LLC will offer clearing through CME ClearPort(r) of over the counter (OTC) grain swaps negotiated on the Agora X electronic communications network (ECN). Agora X plans to roll out its clearing functionality in conjunction with the 6 April

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Agora-X, LLC will offer clearing through CME ClearPort(r) of over the counter (OTC) grain swaps negotiated on the Agora-X electronic communications network (ECN).

Agora-X plans to roll out its clearing functionality in conjunction with the 6 April launch date through CME ClearPort of the CBOT OTC grain swaps.

Agora-X ECN platform now will have the capability of sending certain of its transactions through CME ClearPort, a set of flexible clearing services open to market participants that eliminates third-party credit risk and provides capital efficiencies across a wide range of asset classes.

“As Agora-X moves forward, our efficiency and convenience will make a dramatic difference for OTC commodity trading,” says Brent M. Weisenborn, chief executive officer. “Until now, OTC trading has been quite antiquated. Traders are bombarded with instant messages, phone calls or e-mails, making it cumbersome to maintain a real-time sense of the market.”

“Agora-X provides a smooth, seamless, efficient marketplace, and in conjunction with CME ClearPort, electronic centralized clearing capability. The Agora-X platform provides complete trade audit trail, which allows OTC commodity markets to be transparent. When markets are transparent, they will become more efficient, liquid and open.”

L.D.

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