A German potato futures trading market has taken on a UK company to handle its clearing and settlement, as well as act as its broker.
From the start of September the Warenterminbörse Hannover (WTB) will be using UK-based ADM Investor Services International (ADMISI) as its general clearer.
Market participants have already been able to trade WTB-products via ADMISI for four years. Now the range of services offered by the company will be completed by direct clearing and settlement and clients of ADMISI will have a strongly improved trading environment.
Christian Koltze, WTB company secretary, said: “We are very pleased about ADMISI joining the WTB from now on. With this strong partner we will have excellent chances to further broaden our customer base.”
WTB, trading since 1998, offers futures on a variety of agricultural products.
