News Release

CME Group to Launch Deliverable Nonfat Dry Milk Futures and Options

Tue Mar 24 2009

CHICAGO, March 24 /PRNewswire-FirstCall/ -- CME Group, the world's largest and most diverse derivatives exchange, announced today the launch of deliverable nonfat dry milk futures and options on futures scheduled to begin April 20. The contracts will be listed with and subject to the rules and regulations of the Chicago Mercantile Exchange Inc.


The new nonfat dry milk listing differs from the existing cash-settled futures because at contract expiration settlement is made by the physical delivery of 44,000 pounds of Grade A or Extra Grade nonfat dry milk per contract.


"We are launching a second nonfat milk contract that in most respects mirrors our existing contract because our customers requested a physically deliverable instrument that would better suit their hedging needs," said John Harangody, CME Group Director of Commodity Products and Services. "Having two nonfat milk listings will enable our customers to utilize more efficient risk- management strategies."


The new contracts will trade virtually 24 hours a day exclusively on CME Globex® beginning Mondays at 9:05 a.m. Chicago time through 1:55 p.m. Fridays with a daily trading halt from 4 p.m. to 5 p.m.


CME Group ( 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



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