News Release

CME Group Announces the Launch of New European Gasoil Futures Contract

Wed Aug 05 2009

 

 

 

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 www.cmegroup.com/clearport.

 

As the world's largest 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 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 www.cmegroup.com.

 

CME-G

 

 

 

SOURCE CME Group

SOURCE: CME Group

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

Corporate Communications

+1 312 930 3434
Email