NYSHEX raises US$8.7 million to expand NYFI freight index

New York Shipping Exchange (NYSHEX) has raised US$8.7 million in Series D funding to expand its NYSHEX Freight Index (NYFI) and strengthen its container shipping risk management services.

The financing round was led by NewRoad Capital Partners and Intercontinental Exchange (ICE), with participation from existing investors.

As part of the investment, Stuart Williams, Chief Operating Officer of ICE, will join the NYSHEX Board of Directors.

The funding will support the expansion of NYFI into additional markets. NYSHEX also plans to develop more detailed freight benchmarks and improve analytics linked to exchange-traded freight futures.

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