CME Group Announces the Launch of Dow Jones-UBS Commodity Index Swap Futures
November 12 2009 - 12:05PM
PR Newswire (US)
CHICAGO, Nov. 12 /PRNewswire-FirstCall/ -- CME Group, the world's
largest and most diverse derivatives marketplace, today announced
the launch of trading and clearing services for cash-settled swap
futures on the Dow Jones-UBS Commodity Index(SM) ( DJ-UBSCI(SM)).
Trading for the DJ-UBSCI-based product is scheduled to begin
Monday, December 7. Clearing services will be available through CME
ClearPort, a set of flexible clearing services open to over-the
counter (OTC) market participants to substantially mitigate
counterparty risk and provide neutral settlement prices across
asset classes. The Dow Jones-UBS Commodity Index is a broadly
diversified index that allows investors to track commodity futures
through a single vehicle. It is composed of futures contracts on
physical commodities including energy, grains, oilseeds, livestock
and metals products. "There is strong growth in investor demand to
bring these types of products now traded in over-the-counter
markets onto a centrally cleared environment, where the risk of a
counterparty default is greatly diminished," said Tim Andriesen,
CME Group Managing Director of Commodity Products. The commodity
index swaps, which can be used as a complement to CME Group's
benchmark Dow Jones-UBS Commodity Index futures contract, will be
subject to position accountability, transaction reporting, and
margining and risk management standards that are comparable to
commodity index futures contracts. These new OTC offerings are in
addition to the successful grain calendar swaps launched in April.
For more information please visit
http://www.cmegroup.com/clearport. As the world's largest and most
diverse derivatives marketplace, CME Group
(http://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 largest central counterparty clearing services in the world,
which provides 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. 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 (NASDAQ:CME) and its products
can be found at http://www.cmegroup.com/. "Dow Jones", "UBS", "Dow
Jones-UBS Commodity Index(SM)", and "DJ-UBSCI(SM)" are service
marks of Dow Jones & Company, Inc. and UBS AG, as the case may
be, and have been licensed for use for certain purposes by the
Board of Trade of the City of Chicago, Inc. CBOT's Dow Jones-UBS
Commodity Index(SM) cash-settled swap futures based on the Dow
Jones-UBS Commodity Index(SM), are not sponsored, endorsed, sold or
promoted by Dow Jones, UBS or any of their respective subsidiaries
or affiliates, and none of Dow Jones, UBS or any of their
respective affiliates, makes any representation regarding the
advisability of investing in such product(s). 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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