News Release

CME Group Announces the Launch of New Petroleum Products Contracts

Wed Sep 09 2009

 

 

 

CHICAGO, Sept. 9 /PRNewswire-FirstCall/ -- CME Group, the world's largest and most diverse derivatives marketplace, today announced the launch of trading and clearing services for 12 new petroleum products futures and options. 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. Trading and clearing are scheduled to begin on September 20 for trade date September 21. These contracts are listed by and subject to the rules and regulations of NYMEX.

 

The contracts and commodity codes will be:

  • Singapore Mogas 95 unleaded (Platts) swap futures (V0)
  • Singapore Mogas 95 unleaded (Platts) BALMO swap futures (W0)
  • Singapore Mogas 97 unleaded (Platts) swap futures (X0)
  • Singapore Mogas 97 unleaded (Platts) BALMO swap futures Y0)
  • Singapore jet kerosene vs. gasoil spread (Platts) BALMO swap futures (Z0)
  • Diesel 10 ppm Northwest Europe Le Havre (Platts) CIF NWE swap futures (S1)
  • Diesel 10 ppm NWE Le Havre (Platts) CIF NWE vs. ICE gasoil swap futures (S3)
  • Diesel 10 ppm NWE Le Havre (Platts) CIF NWE vs. ICE gasoil BALMO swap futures (S5)
  • Diesel 10 ppm UK (Platts) CIF NWE swap futures (S6)
  • Diesel 10 ppm UK (Platts) CIF NWE vs. ICE gasoil swap futures (S8)
  • Diesel 10 ppm UK (Platts) CIF NWE vs. ICE gasoil BALMO swap futures (T1)
  • Singapore fuel oil 380 cst swap (Platts) average price options (8H)
     

 

 

The Asian products will help mitigate risk in the Singapore regional gasoline and fuel oil markets, while the European products are being listed to address a new regulatory specification that requires a lower sulfur content.

 

The first listed month will be the October 2009 contract. The BALMO contracts will be listed for one month and the following month for 10 business days prior to the start of the contract month. All other contracts will be listed for 36 consecutive months.

 

The Singapore fuel oil cst swap (Platts) average price options contract will be $1,000 metric tons in size and will have a minimum price fluctuation of $0.01 per metric ton. There will be 20 strike prices in increments of $0.50 per barrel above and below the at-the-money strike price.

 

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/

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