BIFFEX


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BIFFEX

(ˈbɪfɛks)
acronym for
(Commerce) Baltic International Freight Futures Exchange, inaugurated in London in 1985
References in periodicals archive ?
Even though BIFFEX ceased to trade in 2002 due to low liquidity, the hedging function of freight derivatives contracts is regarded positively by many in this industry.
In light of the BIFFEX experience, the underlying asset of an FFA is the market rate of a specific route or an index of a small basket of routes.
Finally, investigation of this issue has important implications for the purposes of futures trading, as the BIFFEX contract was eventually delisted in April 2002.