CHICAGO, May 16, 2016 /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 Aluminum A380 Alloy (S&P Global Platts)
futures contract to begin trading on June 6,
2016. Pending relevant regulatory review periods, the new
contract will be available for trading on CME Globex, for
submission for clearing through CME ClearPort, and will be listed
with and subject to the rules and regulations of COMEX.
"This new contract will provide our customers and market
participants with an effective and transparent solution for hedging
aluminum alloy price risk," said Young-Jin
Chang, CME Group Executive Director of Metals Products.
"Aluminum A380 Alloy futures will complement our diverse suite of
physically delivered and financially settled aluminum futures and
responds to commercial customer demand for a North American
exchange-cleared hedging tool for managing their aluminum alloy
risk."
"We've seen growing demand for a North American aluminum alloy
risk management tool from customers who prefer to hedge using
flexible exchange-listed futures contracts," said Michael Camacho, JPMorgan Chase & Co. Head
of Global Commodities. "CME Group's new aluminum alloy futures
contract will provide a much-needed solution to the market at a
time when a significant number of base metals customers are
shifting the way they hedge their physical material."
This new Aluminum A380 Alloy (S&P Global Platts) futures
contract will complement CME Group's existing suite of aluminum
risk management tools, including its Aluminum MW U.S. Transaction
Premium Platts futures, Aluminium European Premium Duty-Paid (Metal
Bulletin) futures, Aluminium European Premium Duty-Unpaid (Metal
Bulletin) futures, Aluminum Japan Premium (Platts) futures, and
physically delivered Aluminum futures.
Aluminum A380 Alloy (S&P Global Platts) futures will be
44,092 pounds (equivalent to 20 metric tons) in size and will be
financially settled against the S&P Global Platts assessment of
the MW US A380 Alloy.
For more information on CME Group's metals products, please
visit www.cmegroup.com/metals.
About CME Group
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, the Chicago Board of Trade, KCBOT, KCBT and
Kansas City 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.
About S&P Global Platts
S&P Global Platts is
a division of S&P Global (NYSE: SPGI), which provides essential
intelligence for individuals, companies and governments to make
decisions with confidence. For more information,
visit www.platts.com.
CME-G
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SOURCE CME Group