News Release

CME Group Announces the Launch of Intercommodity Spread Options for Corn and Wheat

Tue Jun 22 2010

             CHICAGO, June 22, 2010 – CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of intercommodity options on corn/wheat futures spreads scheduled to begin trading on July 25, 2010. These contracts are listed with, and subject to, the rules and regulations of the CBOT.

The new listing, which will be available on CME Globex and in open outcry, will enable market participants to trade options on corn/wheat intercommodity futures spreads. The two commodities are closely linked by market fundamentals such as available planting acreage, demand for feed and the impact of weather.

 

“Historically, agricultural commodities market participants have traded the relationships between corn and wheat based on shifting product profitability and production,” said Tim Andriesen, CME Group Managing Director of Agricultural Commodities Products and Services. “These new listings allow customers to trade these spreads in the form of an option, helping to manage their risk at a fixed cost.”

 

Trading hours for the new spread contracts are 6:00 p.m. to 7:15 a.m. and then 9:30 a.m. to 1:15 p.m. Sunday through Friday Central time. Open outcry will follow regular trading hours for grain products of 9:30 a.m. to 1:15 p.m. Monday through Friday.

 

                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 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 (NASDAQ: CME) and its products can be found at www.cmegroup.com

 

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