CME Group Announces Latin American Commercial Incentive Program
June 15 2009 - 11:06AM
PR Newswire (US)
CHICAGO, June 15 /PRNewswire-FirstCall/ -- CME Group, the world's
largest and most diverse derivatives exchange, today announced a
new Latin American Commercial Incentive Program that will enable
Latin American-based commercial agricultural hedgers to receive
discounted trading fees for electronic trading of CME and CBOT
Agricultural products, scheduled to begin August 1. Firms based in
Latin America with a primary business that includes growing,
trading, processing or merchandising agricultural commodities can
qualify to receive the discounted fees for proprietary trading.
"The Latin American incentive program, combined with our South
American pricing program for banks and our order routing agreement
with BM&FBOVESPA, is part of our long-term strategy to provide
Latin American-based customers with leading risk management
products," said Rick Redding, CME Group Managing Director of
Products and Services. "We provide customers located in Latin
America with a transparent marketplace and central counterparty
clearing to diminish counterparty risk. These benefits apply to the
trading of our benchmark products, such as corn, wheat, soybeans,
soymeal, soyoil, rice, oats, live cattle, lean hogs, feeder cattle,
frozen pork bellies, milk, dry whey, butter and lumber products."
The Latin American Commercial fee program, which will be offered to
firms in 31 countries and includes minimum quarterly volume
requirements, runs through December 31, 2010. CME Group
(http://www.cmegroup.com/) 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 http://www.cmegroup.com/. CME-G DATASOURCE: CME Group CONTACT:
Media, Mary Haffenberg, +1-312-930-3435, or Allan Schoenberg,
+1-312-930-8189, , or Investors, John Peschier, +1-312-930-8491,
all of CME Group Web Site: http://www.cmegroup.com/
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