LCH.Clearnet and Baltic Exchange are in negotiations to have the exchange's Baltex dry-bulk freight derivatives platform handle the clearing and reporting of LCH.Clearnet's freight forward agreements. LCH.Clearnet clears about 70% of the dry FFA market. Baltex CEO Jeremy Penn said the platform has struggled with attracting volume, but the LCH.Clearnet deal "has the potential to dramatically change the fortunes of Baltex."

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