Credit Suisse completed the first ever cleared coking coal swap transaction yesterday.
As per reports and information from our sources,Credit Suisse completed the first ever cleared coking coal swap transaction yesterday, in a development that should enable steel mills to hedge their exposure to their entire floating costs.The closing of the transaction early yesterday morning was the culmination of two-and-a-half years of work to identify appropriate reference indices and sufficient liquidity, Kristian Thunes, Credit Suisse's global head of freight and iron ore, told FinanceAsia.
Swiss banking giant Credit Suisse on Thursday ended a losing streak with a net profit of 2.0 billion francs for the first quarter, saying cost cutting and capital raising measures have worked.