CHICAGO, Sept. 24, 2020 /PRNewswire/ -- CME Group,
the world's leading and most diverse derivatives marketplace, today
announced that it has added dock allocation as an additional
delivery point for its NYMEX WTI Houston (HCL) Crude Oil futures
contracts, pending regulatory review. The added delivery point,
effective with the January 2021
contract, will allow eligible market participants to deliver WTI
Houston (HCL) Crude Oil futures directly onto a tanker at the
Houston Ship Channel terminal owned by a subsidiary of Enterprise
Products Partners L.P.
"As the US crude oil export market has grown, we have seen an
increase in demand for direct access to waterborne markets," said
Peter Keavey, CME Group Global Head
of Energy. "The dock allocation process is the next phase in the
evolution of WTI Houston and merges the physically-delivered
futures market with the export market, providing customers with the
option to deliver consistent, high-quality light sweet crude oil
right on the water."
The dock allocation process allows firms to deliver between
650,000 to 850,000 barrels of light sweet crude oil directly onto a
tanker at the Enterprise Houston Ship Channel terminal. CME
Clearing manages the process and will assign allocation windows to
interested and eligible market participants on a confidential
basis. Firms that receive an allocation window can either use it to
take delivery or transfer ownership off-exchange.
CME Group launched its physically delivered WTI Houston (HCL)
futures contract in 2018, allowing market participants to access a
diverse group of refiners, storage and export facilities in
Houston.
For more information, please visit:
www.cmegroup.com/wtihouston.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) enables clients to trade futures,
options, cash and OTC markets, optimize portfolios, and analyze
data – empowering market participants worldwide to efficiently
manage risk and capture opportunities. CME Group exchanges offer
the widest range of global benchmark products across all major
asset classes based on interest rates, equity
indexes, foreign exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex® platform,
fixed income trading via BrokerTec and foreign exchange trading on
the EBS platform. In addition, it operates one of the world's
leading central counterparty clearing providers, CME
Clearing. With a range of pre- and post-trade products and
services underpinning the entire lifecycle of a trade, CME Group
also offers optimization and reconciliation services through
TriOptima, and trade processing services through Traiana.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board of Trade are trademarks
of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile
Exchange and ClearPort are trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange,
Inc. BrokerTec, EBS, TriOptima, and Traiana are trademarks of
BrokerTec Europe LTD, EBS Group LTD, TriOptima AB, and Traiana,
Inc., respectively. Dow Jones, Dow Jones Industrial Average, S&P
500 and S&P are service and/or trademarks of Dow Jones
Trademark Holdings LLC, Standard & Poor's Financial Services
LLC and S&P/Dow Jones Indices LLC, as the case may be, and have
been licensed for use by Chicago Mercantile Exchange Inc. All
other trademarks are the property of their respective
owners.
CME-G
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SOURCE CME Group