News Release

CME Clearing Europe to Expand Product Offerings to Include New Biodiesel and Diesel Contracts; Adds Another Clearing Member Firm

Wed Jun 08 2011

LONDON, June 8, 2011 /PRNewswire/ -- CME Clearing, a wholly-owned London-based subsidiary of CME Group, today announced that it has added two new over-the-counter diesel and two biodiesel contracts for clearing as the company expands its European product offerings.  In addition, the company will be adding Credit Suisse as a clearing member firm bringing the total number of clearing members to 16.

"We continue to develop opportunities for helping our customers in Europe who need to manage their risk in the energy market, and in the coming weeks we will be adding more agricultural and energy specific contracts as we now start to increasingly expand our service offerings for the region," said Andrew Lamb, Chief Executive Officer of CME Clearing Europe. "As the industry looks for ways to manage the risk associated with customer portfolios and to meet new regulatory requirements, we are encouraged by the growing interest from market participants to connect to CME Clearing Europe." 

"We are very pleased to support CME Group's latest European initiative as we continue to pursue new ways to help our clients manage their risk needs," said Steve Mahoney, Head of OTC Clearing, Credit Suisse.  "We look forward to working with CME Clearing Europe more closely as they expand their suite of products." 

The new contracts will further provide customers with local products that have regional and operational attributes and include the following: 

  • European RME Biodiesel fob Rotterdam (Argus) vs. European Gasoil (ICE) Spread Calendar Swap
  • European FAME 0 Biodiesel fob Rotterdam (Argus) vs. European Gasoil (ICE) Spread Calendar Swap
  • European Diesel 10ppm Cargoes cif NWE (Platts) Calendar Swap

European ULSD 10ppm Cargoes cif NWE (Platts) Calendar Swap

About CME Clearing Europe

CME Clearing Europe (www.cmeclearingeurope.com), a wholly owned subsidiary of CME Group, has been established in London with the aim of offering services as a multi-product clearing house focused on non-US customers. CME Clearing Europe will provide world class clearing for a broad base of customers, building on its European presence to extend the geographical reach of CME Group's clearing services. CME Clearing Europe will ensure stability and increase transparency in the markets cleared, helping to reduce and contain systemic risk. CME Clearing Europe was approved as a Recognised Clearing House (RCH) by the Financial Services Authority (FSA) of the United Kingdom in December 2010. Separately, CME Clearing Europe has applied to the Commodity Futures Trading Commission (CFTC) to become a registered Derivatives Clearing Organization (DCO).

About CME Group

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 world's leading central counterparty clearing providers, which offers 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.

CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc.  CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are registered 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.

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SOURCE CME Group

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