GLOBEX Advisory Notices
To | CME(R) Globex(R) Customers
From | CME Globex Account Management
Subject | CME(R) Cash-Settled Butter(TM) Futures Launch
Notice Date | 2005-08-26
Notice Number | 082905-1
Effective Date |
Dear CME® Globex® Customers, Effective Monday, September 19, 2005, CME will launch the CME Cash-Settled ButterTM futures exclusively on the CME Globex electronic trading platform. To help ensure liquidity and a continuous, transparent and competitive market in this new contract, CME has selected Modern Dairy Markets LLC as a market maker. CME Cash-Settled Butter futures will provide participants in the food industry a liquid, cash-settled hedging mechanism to manage their exposure to price fluctuations in butterfat. In addition, butter producers and other food industry participants will be better able to manage their risk with this new contract. The CME Cash-Settled Butter futures will be available for testing in the CME certification environment starting Sunday, August 28, 2005. If you have any questions or concerns about this CME product launch, please contact Errol Baxter, 312.930.8202, CME Commodity Products; or your CME Globex Account Manager at 312.634.8700; or in Europe at +44.207.623.2550. Thank you, CME 800.331.3332