CHICAGO, May 18, 2015 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced the launch of physically delivered Zinc futures contracts
to begin trading on June 29, 2015,
pending all relevant regulatory review periods.
These new Zinc futures contracts will build on CME Group's suite
of physically and financially settled base metals products, and
provide greater transparency and price discovery for market
participants in North America and
around the globe. Zinc futures will be priced in U.S. dollars and
will represent 25 metric tons of physical material, beginning with
the October 2015 listed month.
"Customers across the global physical commodities value chain
rely on the accurate price discovery and risk transfer that CME
Group's commodity risk management tools provide," said Derek Sammann, Senior Managing Director and
Global Head of Commodities and Options Products, CME Group. "The
introduction of this physical zinc futures contract further
strengthens our value proposition to industrial metals participants
and enables them to take advantage of the integrity and efficiency
of our warehousing practices."
"We're pleased that CME Group has responded swiftly and
decisively to industry feedback for a new and transparent North
American benchmark for zinc," said Michael
Camacho, Co-Head of Global Commodities, JPMorgan Chase &
Co. "We expect this contract will bring new opportunities and
enhance the risk-management services that we offer in zinc for our
commercial customers in North
America."
CME Group's new Zinc futures contract will be physically
delivered in approved warehouses across the U.S. The contract will
enable market participants to benefit from the reliability and
proven integrity of the exchange's delivery process when they make
and take delivery of high grade zinc of 99.995 percent purity.
These contracts will be available for trading electronically via
CME Globex, as well as submission for clearing through CME
ClearPort and will be listed by and subject to the rules of
COMEX.
At present, C. Steinweg, Inc., Henry Bath LLC and Dearborn
Distribution Services have applied to become exchange-approved
warehouses for the delivery and storage of physical zinc in the
Baltimore, New Orleans, Chicago and Detroit regions.
For more information visit www.cmegroup.com/metals.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers together
through its CME Globex® electronic trading platform, its trading
facilities in New York and
Chicago, and through its
London-based CME Europe
derivatives exchange. CME Group also operates one of the
world's leading central counterparty clearing providers through CME
Clearing and CME Clearing Europe, which offer clearing and
settlement services across asset classes for exchange-traded
contracts and over-the-counter derivatives transactions.
These products and services ensure that businesses everywhere can
substantially mitigate counterparty credit risk.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange,
Inc. All other trademarks are the property of their
respective owners. Further information about CME Group (NASDAQ:
CME) and its products can be found at www.cmegroup.com.
CME-G
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SOURCE CME Group