CHICAGO, March 16, 2011 /PRNewswire/ -- CME Group, the
world's leading and most diverse energy marketplace, today
announced two new Brent crude futures crack spreads to be listed
with implied functionality on CME Globex® for trade date on
March 28, 2011.
Beginning Monday, Mar. 28, market
participants will be able to hedge benchmark RBOB Gasoline futures
(RB) and Heating Oil futures (HO) against NYMEX Brent Crude Oil
Last Day Financial Futures (BZ). The new crack spreads will be
available for electronic trading only on CME Globex® (RB:BZ and
HO:BZ).
"The listing of these new Brent crude crack spreads builds on
our strong commitment to meeting the needs of customers by
extending our already robust slate of intercommodity crude oil
spreads," said Joe Raia, CME Group
Managing Director, Energy & Metals Products. "Customers now
have the ability to trade crack spreads on both WTI and Brent
futures on a single trading platform and gain greater margin
efficiencies."
According to Raia, volumes in energy futures are rising overall
at a rapid pace, a reflection of the market's need for instruments
to hedge commercial and financial risk.
During the month of February, the average daily volume (ADV) for
WTI futures grew 37 percent year-over-year to nearly 1.2 million
contracts; Heating Oil futures increased 33 percent to 142,000
contracts; RBOB Gasoline futures increased 14 percent to 126,000
contracts and Brent Last Day Financial futures increased
significantly to 3,197 contracts.
CME Group Light Sweet Crude Oil (WTI) futures, Brent Crude Oil
Last Day Financial Futures, RBOB Gasoline futures and Heating Oil
futures contracts are listed by and subject to the rules of
NYMEX.
As the world's leading and most diverse derivatives marketplace,
CME Group (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 world's leading central
counterparty clearing provider in the world, which offers 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 www.cmegroup.com.
CME-G
SOURCE CME Group