CHICAGO, Oct. 26, 2016 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced that the first Alumina FOB Australia (Platts)
Futures contracts were traded on Tuesday, Oct. 25, 2016.
A total of 60 futures contracts, equivalent to 6,000 metric tons,
were traded across the January through June 2017 contract
months.
"We're pleased to see early support for our new Alumina futures
contracts," said Young-Jin Chang, CME Group Global Head of
Metals Products. "Together with our existing suite of aluminum
products, these new contracts enable customers to effectively
manage price risk both up and down the aluminum value chain. We
look forward to continuing to work with the industry to meet the
evolving needs of our customers."
"We're enthusiastic about brokering the first trades of these
new Alumina futures contracts," said André Marshall, Founder,
Crunch Risk, LLC. "The introduction of these contracts by CME Group
is timely and relevant given the volatile alumina price environment
in recent months. We believe these contracts have the potential to
grow as participants become more familiar with using them to manage
price risk in their business."
Alumina FOB Australia (Platts) futures are 100 metric tons
(equivalent to 220,462 pounds) in size and financially settled each
month against the weekly price index published for Alumina FOB
Australia by S&P Global Platts. CME Group's Alumina futures
contracts became available for trading on September 26, 2016, and are listed with and
subject to COMEX rules.
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 products and metals. Around
the world, CME Group brings buyers and sellers together through its
CME Globex® electronic trading platform and its exchanges based in
Chicago, New York and London. 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 and
over-the-counter derivatives. CME Group's products and services
ensure that businesses around the world can effectively manage risk
and achieve growth.
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
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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