We saw early on the potential of electrification to decarbonise a range of global markets, starting with road transportation, where our clients from those markets asked us to help provide liquidity and risk management tools in the nascent battery materials market.
Working alongside Fastmarkets, CME and SGX, we created and traded the first financially settled exchange cleared contracts on Cobalt, Lithium and Molybdenum, alongside options products for the same.
We are actively bringing liquidity on physical and derivative markets on Cobalt, Lithium and Molybdenum and we are working with our clients and partners to develop similar liquidity pools in other potential low carbon electrification markets.
Open interest on these financially settled products has exploded, with over 22,000 tonnes of open interest on Lithium Hydroxide, and 18,000 tonnes on Cobalt metal.