|Baltic International Freight Futures Exchange (BIFFEX)|
This facility is another of the services offered by the baltic exchange. It has been established, as the name suggests, to assist in minimizing the financial risks necessarily involved in selling or buying large amounts of forward freight. Its role is not dissimilar to that of L.I.F.F.E., as persons who have acquired forward contracts for freight can sell these contracts, in part or whole, throug Exchange.
|Reference: The Penguin Business Dictionary, 3rd edt.|