LONDON, Sept. 4, 2015
/PRNewswire/ -- CME Group, the world's leading and most diverse
derivatives marketplace, today announced it will expand its base
metals offering with the introduction of a new Aluminium European
Premium Duty-Unpaid (Metal Bulletin) futures contract to begin
trading on 21 September, 2015.
Pending relevant regulatory review periods, the new contract will
be available for trading on CME Globex and for submission for
clearing through CME ClearPort, and will be listed with and subject
to the rules and regulations of COMEX.
"Our new contract will be the first viable exchange-traded
futures product to enable customers and market participants to
hedge their exposure to the European aluminium premium," said
Young-Jin Chang, CME Group Senior
Director of Metals Products. "This is a continuation of our
commitment to engage with customers and market participants in the
aluminium industry around the globe. We continue to work closely
with the industry to provide them with innovative new solutions to
manage aluminium premium volatility, which has reached record
levels during the last three years."
These new contracts will complement CME Group's existing suite
of aluminium risk management tools, including its Aluminum MW U.S.
Transaction Premium futures and physically delivered Aluminum
futures. Industry participation in the Aluminum Midwest Premium
contract has steadily increased, trading the equivalent of more
than 650,000 metric tons since their launch in April 2012 and reaching a record 19,335 contracts
open interest on 1 September 2015.
Aluminum futures, which were introduced in May of last year, serve
as a reference price for the North American aluminium industry and
allow participants to better manage their price risk.
The Aluminium European Premium futures contract will be 25
metric tons in size and will be financially settled against the
Metal Bulletin assessment of aluminium spot price transactions in
Europe.
For more information on CME Group's metals products, please
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. KCBOT, KCBT and Kansas
City Board of Trade are trademarks of The Board of Trade of
Kansas City, Missouri, 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