NEW YORK and SINGAPORE, Nov. 18,
2015 /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 Japan Premium (Platts) futures contract to begin trading
on 7 December 2015. Pending relevant
regulatory review periods, the new contract will be available for
trading on CME Globex and for submission for clearing through CME
ClearPort, and will be listed with and subject to the rules and
regulations of COMEX.
"This new contract complements our offering of U.S. and European
aluminum premium futures contracts, and enables market participants
to hedge their exposure to the Asian aluminum premium," said
Young-Jin Chang, Senior Director of
Metals Products, CME Group. "Market participants in
Asia have demanded a solution in
hedging their premium exposure, and with the growing sophistication
and participation of Asia in
global aluminum pricing, we are pleased to offer this new Aluminum
Japan Premium (Platts) futures contract to better address our
customers' needs."
This new Aluminum Japan Premium (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, Aluminum European Premium Metal Bulletin futures and
physically delivered Aluminum futures.
Industry participation in the Aluminum MW U.S Transaction
Premium Platts futures contract has steadily increased, trading the
equivalent of more than 940,250 metric tons since their launch in
April 2012 and reaching a record open
interest of 20,061 contracts on 30 October
2015. The Aluminum European Premium Metal Bulletin futures
contract has seen outsized growth in trading volumes since its
launch on 21 September. In just over two months since launch,
it has traded 62,350 metric tons and reaching a record of 2,474
contracts open interest on 10 November
2015.
The Aluminum Japan Premium (Platts) futures contract will be 25
metric tons in size and will be cash-settled referencing the Platts
CIF Japan Spot Premium for Aluminum which is published daily in
real-time service Platts Metals Alert and in Platts Metals Daily.
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 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. KCBOT, KCBT and Kansas
City Board of Trade are trademarks of The Board of Trade of
Kansas City, Missouri, 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 Platts
Founded in 1909, Platts is a leading global provider
of energy, petrochemicals, metals and agriculture information and a
premier source of benchmark prices for the physical and futures
markets. Platts' news, pricing, analytics, commentary
and conferences help customers make better-informed
trading and business decisions and help the markets operate with
greater transparency and efficiency. Customers in more than
150 countries benefit from Platts' coverage of the biofuels,
carbon missions, coal, electricity, oil, natural gas, metals,
nuclear power, petrochemical, shipping and sugar markets. A
division of McGraw Hill Financial (NYSE: MHFI), Platts is based in
London with more than 1000
employees in more than 15 offices worldwide. Additional information
is available at http://www.platts.com.
CME-G
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SOURCE CME Group