The BALTIC EXCHANGE is a membership organisation for the maritime industry, and freight market information provider for the trading and settlement of physical and derivative contracts. It was located at 24–28 St Mary Axe, London, until that building was destroyed by a bomb in 1992 , and is now located at 38 St Mary Axe. It has further offices in Europe and across Asia.
* 1 Overview * 2 Current management * 3 BIFFEX * 4 Premises * 5 Notes * 6 References * 7 External links
Its international community of over 600 member companies encompasses
the majority of world shipping interests and commits to a code of
business conduct overseen by the Baltic.
The company was founded in the mid-19th century, with leading founding shareholders being Stephen Ralli and Michael Rodocanachi, whose families were from the Chian Diaspora . The first use of the name was at the Virginia and Baltick Coffee House in Threadneedle Street in 1744, and was registered as a private limited company with shares in 1900. Today the exchange is owned by its member companies and is not publicly traded on a stock exchange . It is governed by a member-elected board of directors.
The exchange provides daily freight market prices and maritime shipping cost indices which are used to guide freight traders as to the current level of various global shipping markets as well as being used to set freight contract rates and settle freight futures (known as Forward Freight Agreements or FFAs). Originally operating a trading floor , the exchange's members' transactions are today done solely over the telephone or on broker-owned screens.
The exchange is the source of market-wide information and publishes seven daily indices made up from a suite of wet and dry benchmarked individual shipping voyages:
Baltic Dry Index
The exchange also provides forward curves, a dry cargo fixture list, sale and purchase values, LPG assessment, daily market news and the market settlement data for freight derivative contracts.
As of December 2008, the current management includes:
* Chief Executive: Mark Jackson
Baltic International Freight Futures Exchange , was a
London-based exchange for trading ocean freight futures contracts with
settlement based on the BALTIC FREIGHT INDEX. It started trading dry
cargo freight futures contracts in 1985, and was modestly successful
for some years. All contracts were cleared by the ICCH (International
Commodity Clearing House), later renamed
The exchange was located at 24–28 St Mary Axe,
* ^ "Greek Migrations: Phanariot, Chian and other Families and the
Secrets of their Success". Retrieved 22 November 2012.
* ^ CNBC (26 September 2016). "
* Huber, Mark (2001). "Ch. 9:Chartering and Operations". Tanker operations: a handbook for the person-in-charge (PIC). Cambridge, MD: Cornell Maritime Press. ISBN 0-87033-528-6 . * Turpin, Edward A.; McEwen, William A. (1980). "Ch. 18:United States Navigation Laws and Ship's Business". Merchant Marine Officers' Handbook. Centreville, MD: Cornell Maritime Press. ISBN 0-87033-056-X .