CHICAGO and KYIV, Ukraine, May 26,
2011 /PRNewswire/ -- CME Group, the world's leading and most
diverse derivatives marketplace, announced today at The Grain and
Feed Trade Association annual meeting in Kyiv, Ukraine, that it has signed separate
Memorandums of Understanding, one with the Government of
Ukraine and the National Bank of
Ukraine and another with the
commodities exchange Ukrainian Futures Exchange (UFE), to look for
opportunities to further develop the financial and derivatives
market in Ukraine for grain and
non-agricultural products. In addition, the use of the electronic
trading platform CME Globex will be explored.
"These MOUs with the Government of Ukraine, its central bank and the UFE
represents an important step by CME Group to establish its presence
in Eastern Europe," said
Leo Melamed, CME Group Chairman
Emeritus, who led the Ukraine
project. "We are executing our global strategy by providing our
expertise and capabilities, pursuant to the blue print we have
followed both in Europe,
Asia, the Middle East, and Latin America."
"Through these MOUs, we will further extend CME Group's reach
into the European marketplace and build on our position as the
leading provider of commodity risk management tools," said CME
Group Managing Director Agricultural Commodities Tim Andriesen. "As
the world's demand for agricultural markets continues to grow,
Ukraine plays a key role in grain
production with nearly 30 million hectares of arable land. Through
these MOUs we hope to leverage our technology and expertise to
better understand and help evaluate the financial risks in the
region resulting from weather disruption, supply and demand changes
and monetary policy decisions."
"The signing of the MOUs between the Government of Ukraine - represented by the Minister of
Agriculture and Food Stuffs, Mykola
Prysyazhnyuk - and CME Group, the National Bank of
Ukraine, and the Ukrainian Futures
Exchange is an important step for the economic development of the
Black Sea region. Within the framework of the project, the CME
Globex trading platform will provide the global access to manage
risk in our important commodity markets. Now we are facing
consistent and diligent work on our part, but the MOU with CME
Group, the liquidity of their instruments and their technology
leadership is exciting for the future development of this project,"
said Leonid Kozachenko, President of
the Ukrainian Futures Exchange.
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 providers, 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.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
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SOURCE CME Group