What we do
Transforming the global iron ore market
Iron ore is a building block of world economic growth and is undergoing a fundamental shift in the way it is traded. globalORE™ understands these changes. We are shaping the emergence of a trading environment with significant liquidity that will benefit all market participants.
Standardise iron ore markets through adoption of SIOTA
At present, iron ore is bought and sold on widely varying terms. The huge variety of transactions restricts
trade and access to iron ore markets. Our aim is to bring iron ore markets closer to market participants by
making iron ore an easily tradable commodity, allowing them to focus on the most important factors: price and
quantity.
The evolution of the iron ore market depends on the widespread adoption of standardised contracts. globalORE's
Standard Iron Ore Trading Agreement (SIOTA) [Link to SIOTA page on site] fixes the constant elements of trade
(quality specifications, payment and delivery terms), leaving price and volume as the only variables to be agreed
between parties.
Improve transparency and price discovery
Iron ore trades are currently conducted over-the-counter (OTC) and limited trading data is available.
By signing up as a globalORE market member, iron ore players can trade efficiently on globalORE's online trading platform which guarantees price and volume transparency as well as anonymity. Trading data generated through this electronic marketplace will contribute to the development of robust indices and reliable forward curves.
Innovate trading and risk management products
As the physical market evolves, globalORE will innovate financial products which enable market participants to manage their exposure to price, volume and counterparty risk.
