Baltic Freight Index


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Baltic Freight Index

An index tracking futures contracts on goods being shipped internationally. It was used to settle contracts traded on the now defunct Baltic International Freight Futures Exchange.
References in periodicals archive ?
The underlying asset of BIFFEX contracts, the Baltic Freight Index (BFI), is a weighted average of the spot prices from eleven shipping routes.
In January 1985, the Baltic Exchange developed the then known Baltic Freight Index (BFI), which, in May 1985, would become the underlying asset of the Baltic International Freight Futures Exchange (BIFFEX) contract, a contract designed to hedge uncertainty associated with volatile freight rates.
The underlying asset, which is delivered at the settlement date, is the cash value of a freight-rate index, originally known as the Baltic Freight Index (BFI), now superseded by the Baltic Panamax Index (BPI).
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