News Release

CME Group Announces the Launch of New European Union Allowance (EUA) and Certified Emission Reduction (CER) Futures and Options

Tue Jun 16 2009

CHICAGO, June 16 /PRNewswire-FirstCall/ -- CME Group, the world's largest and most diverse derivatives exchange, today announced the launch of four new In Delivery Month European Union Allowance (EUA) and Certified Emission Reduction (CER) futures and options contracts that will be available through CME ClearPort® and the New York trading floor. 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 capital efficiencies across asset classes. The futures contracts will be available beginning on June 21 for trade date June 22 and the options contracts on June 22 for trade date June 23. These contracts are listed for trading by NYMEX through CME ClearPort, and are subject to NYMEX rules and regulations.

 

"These new green products reflect the needs of the customers who trade in this dynamic and evolving space," said CME Group Managing Director of Products and Services Rick Redding. "We have been working with the industry to develop products that will mitigate risk, while providing opportunities to trade in their venue of choice, utilizing both our electronic and open outcry platforms."

 

The EUA and CER contracts will be 1,000 units in size with a minimum price fluctuation of euro 0.01 per EUA. The futures contracts will expire on the last Monday of the delivery month. The European style options contracts will expire three business days prior to the expiration of the underlying futures contracts. The new contracts and their commodity codes will be: in delivery month EUA futures (6T); in delivery month EUA options (6U); in delivery month CER futures (6S); in delivery month CER options (6P). The termination and delivery dates differentiate these contracts from the existing EUA and CER futures and options contracts, which will continue to be available for trading.

 

It is intended that these products will be listed for trading as part of the Green Exchange venture once that venture has sought and achieved appropriate regulatory status. Green Exchange venture will be working with U.S. and European regulators and intends to seek recognition in the U.S. as a designated contract market and approval from the FSA in the U.K. CME Group is one of the founding members of Green Exchange Holdings LLC.

 

For more information, please visit www.cmegroup.com.

 

CME Group (www.cmegroup.com) is the world's largest and most diverse derivatives exchange. Building on the heritage of CME, CBOT and NYMEX, CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on trading floors in Chicago and New York. By acting as the buyer to every seller and the seller to every buyer, CME Clearing virtually eliminates counterparty credit risk. CME Clearing also offers financial safeguards to help mitigate systemic risk, providing the security and confidence market participants need to operate, invest and grow. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, and alternative investment products such as weather and real estate. CME Group is listed on NASDAQ under the symbol "CME."

 

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 www.cmegroup.com.

CME-G

SOURCE: CME Group

Web site: http://www.cmegroup.com/

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