CME Group Announces the Launch of Three New NYISO Swap Options Contracts
August 11 2009 - 5:00PM
PR Newswire (US)
CHICAGO, Aug. 11 /PRNewswire-FirstCall/ -- CME Group, the world's
largest and most diverse derivatives marketplace, today announced
the launch of trading and clearing services for three new NYISO
five megawatt (MW) peak calendar month day-ahead LBMP swap options
contracts. Trading will be available on the New York trading floor,
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 23 for trade date August 24. These contracts are listed
by NYMEX, and are subject to NYMEX rules and regulations. These
options contracts enhance our current suite of East Coast regional
electricity risk management products, providing useful hedging
tools for commercial and other financial traders. The new American
style swap options and their commodity codes will be: NYISO Zone A
five MW peak calendar month day-ahead LBMP (9T); NYISO Zone G five
MW peak calendar month day-ahead LBMP (9U); and NYISO Zone J five
MW peak calendar month day-ahead LBMP (9V). The contracts will be
80 megawatt hours with a minimum price fluctuation of $0.01 per
megawatt hour. Beginning with September 2009, monthly contracts
will be listed for the balance of current year plus three
additional calendar years. There will be 20 strike prices in
increments of $.50 per megawatt hour above and below the
at-the-money strike price, for a total of at least 41 strike
prices. 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/
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