It is reported that coal trading platform globalCOAL has collaborated with global futures exchange the Intercontinental Exchange to introduce a financially settled coal futures contract, entitled the ICE Newcastle Futures contract, specifically designed for the Asian markets.

Mr Cunningham asserted that these exchanges have become more appealing because of the attraction of the clearing house and the reduction in bureaucracy. He added that "Trading on exchanges eliminates financial risk, and it attracts players who do not have access to the OTC market like the Asian consumers and producers, who may not have the contractual paperwork in place to trade in the OTC market."

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