-- Singapore Exchange (SGX:S68) refuted claims by Mercuria Energy Trading regarding the production of a key shipping benchmark, according to an SGX announcement on Sunday.
The dispute centers on the TD3C benchmark, produced by SGX subsidiary Baltic Exchange Information Services. Mercuria on April 30 alleged that the Baltic Exchange failed to meet statutory and contractual obligations in relation to the benchmark, citing ongoing events in the Gulf.
Singapore Exchange rejected the claims, saying the Baltic Exchange operates under "robust governance frameworks, methodologies and oversight processes."