CME Group Announces the Launch of New European Gasoil Futures Contract
August 05 2009 - 4:58PM
PR Newswire (US)
CHICAGO, Aug. 5 /PRNewswire-FirstCall/ -- CME Group, the world's
largest and most diverse derivatives marketplace, today announced
the launch of trading and clearing services for a new financially
settled European gasoil (ICE) futures contract. Trading will be
available on the CME Globex electronic trading platform and
clearing services will be available through CME ClearPort , a set
of flexible clearing services open to over-the-counter (OTC) market
participants to substantially mitigate counterparty risk and
provide neutral settlement prices across asset classes, beginning
on August 22 for trade date August 24. These contracts are listed
by NYMEX, and are subject to NYMEX rules and regulations. This
contract will allow CME Group customers to now gain margin and
capital efficiencies by hedging their risk to both European gasoil
and Brent crude oil futures along with the company's benchmark WTI
and heating oil futures contracts, all on a single exchange. Market
participants continue to seek to lower their capital costs of
hedging, and these contracts, along with CME Group's suite of Brent
crude oil and gasoil options contracts, will help them achieve
these efficiencies. The commodity code for the European gasoil
(ICE) futures contract will be 7F. The contract will be listed for
36 consecutive months with the first contract month of September
2009. For more information please visit
http://www.cmegroup.com/clearport. As the world's largest and most
diverse derivatives marketplace, CME Group
(http://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 and its trading facilities in New York
and Chicago. CME Group also operates CME Clearing, one of the
largest central counterparty clearing services in the world, which
provides clearing and settlement services for exchange-traded
contracts, as well as for over-the-counter derivatives transactions
through CME ClearPort . These products and services ensure that
businesses everywhere can substantially mitigate counterparty
credit risk in both listed and over-the-counter derivatives
markets. The Globe logo, CME, Chicago Mercantile Exchange, CME
Group, Globex, E-mini and CME ClearPort are trademarks of Chicago
Mercantile Exchange Inc. CBOT and Chicago Board of Trade are
trademarks of the Board of Trade of the City of Chicago. NYMEX and
New York Mercantile Exchange are 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 and its products can be found
at http://www.cmegroup.com/. CME-G DATASOURCE: CME Group CONTACT:
Media, Anu Ahluwalia, +1-212-299-2439, or Allan Schoenberg,
+1-312-930-8189, , or Investors, John Peschier, +1-312-930-8491,
all of CME Group Web Site: http://www.cmegroup.com/
Copyright