CHICAGO, Aug. 22, 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 Alumina FOB Australia (S&P Global Platts)
futures and Alumina FOB Australia (Metal Bulletin) futures. Both
contracts will begin trading on September
26, 2016. Pending relevant regulatory review periods, these
new contracts will be available for trading on CME Globex, for
submission for clearing through CME ClearPort, and will be listed
with and subject to COMEX rules.
"These two new Alumina futures contracts are an innovative
solution designed to help our customers better manage risk across
multiple sources of volatility," said Young-Jin Chang, CME Group Global Head of Metals
Products. "As we continue to experience strong momentum across our
aluminum product suite, we are committed to working with market
participants and customers in the aluminum industry around the
world to meet their evolving needs."
"We are pleased to see the creation of a liquid, transparent
futures market for fixed price alumina," said Zach Mayer, ARG International AG Trader. "We
believe there is now, and has been for years, strong demand for a
product of this nature, from various participants in the alumina
market globally, and we look forward to transacting in this new
market for years to come."
Volume for CME Group's Metals Products averaged 503,000
contracts per day in July 2016, up 32
percent from July 2015. Open interest
in its suite of aluminum products surpassed 42,000 contracts in
July 2016.
These new futures contracts will complement CME Group's existing
suite of aluminum risk management tools, including its Aluminum
A380 Alloy (S&P Global Platts) futures, 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.
Alumina FOB Australia (Metal Bulletin) futures will be 100
metric tons (equivalent to 220,462 pounds) in size and will be
financially settled each month against the weekly price index
published for Alumina FOB Australia by Metal Bulletin.
Alumina FOB Australia (S&P Global Platts) futures will be
100 metric tons (equivalent to 220,462 pounds) in size and will be
financially settled each month against the daily price index
published for Alumina FOB Australia by S&P Global Platts.
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
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