LONDON, May 20, 2015
/PRNewswire/ -- CME Group, the world's leading and most diverse
derivatives market place, announced today the launch of eight new
European Power futures contracts on CME Europe.
European Power futures are base load and peak load contracts
covering the German, French, Spanish and Italian markets and are
all cash settled against the leading power auctions for each
market. This is a significant expansion of the CME Europe utility
slate of contracts and further enhances the choice of contracts
available to participants across the whole energy market
spectrum.
The contracts will be listed on CME Group's European exchange,
CME Europe, for first trade date on Monday 15 June 2015 and
are authorised and approved by the United
Kingdom (UK) Financial Conduct Authority. All CME Group
European Power contracts will be available on CME ClearPort, CME
Globex and distributed via the Trayport platform alongside other
exchange products.
"As European Power markets evolve with supply and demand changes
and the impact of renewable energy, CME Group is committed to
providing effective, relevant tools tailored to the risk management
needs of our regional energy customers in those markets," said
Cees Vermaas, Chief Executive
Officer, CME Europe. "CME Europe provides choice in a range of
products across energy markets, giving our clients best in class
clearing technology, efficient margining and competitive fees."
CME Europe Power futures on German, Italian, Spanish and French
markets are designed to help participants access and manage their
price risk on the largest and some of the rapidly emerging
electricity markets in Europe.
This slate of contracts can be traded in tandem with the company's
full suite of recently launched European natural gas futures,
enabling participants to take a broad approach to energy risk
management from a single marketplace and leveraging substantial
savings across the two asset classes when cross margining across
the slate is available in Q3 2015 (subject to regulatory
approval).
CME Group offers cleared futures and options for the most
extensive and liquid energy complex in the world including: a suite
of natural gas futures products led by our Henry Hub Futures
contract, recognised as the most widely traded benchmark for
natural gas in the world; all three global crude oil benchmarks;
refined products; biofuels; coal and electricity contracts.
These new power contracts will be subject to the rules of CME
Europe and cleared via CME Clearing Europe, CME Group's European
clearing house. Details of the new contracts are set out below and
full contract specifications can be found at
http://www.cmegroup.com/europe/products. A complete list of
products, members and product specifications can be found at
http://www.cmegroup.com/europe.
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