LONDON, Oct. 13, 2015 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced the launch of a new global physically delivered Lead
futures contract with delivery locations available in the U.S. and
Europe. This new contract will be
available for customer trading as of 23
November, 2015, pending all relevant regulatory review
periods.
"The introduction of this new Lead futures contract is another
example of how we're working closely with customers across the
commodities value chain to provide innovative solutions they can
use to hedge volatile industrial metals prices," said Derek Sammann, Senior Managing Director and
Global Head of Commodities and Options Products, CME Group. "This
new contract builds on CME Group's already broad array of global
benchmark metals products and our growing base metals offering.
We're confident Lead futures will become a price reference for
global lead industry participants and provide them with the
transparency they need to more effectively manage their price
risk."
This new Lead futures contract will build on CME Group's growing
suite of physically and financially settled base metals products,
including Zinc futures and Aluminium European Premium futures,
which were introduced earlier in 2015.
"The addition of Lead futures to CME Group's expanding base
metals portfolio will provide our industrial metals clients with
capital efficiencies at a time when they are looking to mitigate
risk in uncertain markets," said Michael
Camacho, Head of Global Commodities at JPMorgan Chase &
Co. "This new risk-management tool should be a welcome development
for all market participants in the base metals industry."
This contract is expected to provide greater transparency and
price discovery for market participants around the globe. Lead
futures will be priced in U.S. dollars and will represent 25 metric
tons of physical material, beginning with the February 2016 listed month.
CME Group's new Lead futures contract will be physically
delivered in approved warehouses in Europe and 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 physical lead.
This contract 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, BTG Pactual Commodities Warehousing (UK) Ltd.;
Henry Bath B.V.; Henry Bath LLC; C.
Steinweg (Baltimore) Inc.; C.
Steinweg – Handelsveem B.V.; Pacorini Metals USA LLC; Worldwide Warehouse Solutions LLC and
Worldwide Warehouse Solutions UK Ltd. have applied to become
exchange-approved warehouses for the storage and delivery of
physical lead. The warehouse locations include Rotterdam, The Netherlands; Antwerp, Belgium and Bilbao, Spain in Europe, as well as the Baltimore, Chicago, Detroit, New
Orleans and Owensboro regions of the U.S.
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