• CME Group to Launch Futures Contracts on Steel

      • To
      • Quote Vendors
      • From
      • Market Data Operations
      • #
      • Q2008-198
      • Notice Date
      • 26 September 2008
      • Effective Date
      • 26 September 2008
    • The CME Group will list for trading and clearing the U.S. Midwest Domestic Hot-Rolled Coil Steel futures contracts beginning on Sunday evening, October 19th, 2008 (for trading date, Monday, October 20th, 2008).  The contract (“HRC”) will be financially settled against an index which reflects an assessment of the prevailing market prices for U.S. Midwest Domestic Hot-Rolled Coil Steel.  This index is developed by CRU Indices Ltd., a subsidiary of CRU International Ltd., a leading supplier of steel industry information.

      The contract size will be 20 short tons with a minimum price fluctuation of $5 per short ton and will be listed for 18 consecutive months.  The contract will expire on the business day prior the fourth Wednesday of the contract month, and the final settlement on the monthly contracts will be the average price calculated for all available price assessments published for that given month.  The contract will be listed on the ClearPort® and CME Globex® electronic clearing and trading platforms.  The contract will be part of the New York Mercantile Exchange, Inc. product slate on CME Globex®.

      Should you have any questions or require any further information, please contact Robert Levin at 212-299-2390. (robert.levin@cmegroup.com)