CHICAGO, June 14, 2011 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced the launch of trading and clearing services for four new
cash-settled fertilizer swap futures for trade date July
11. Trading for these urea, urea ammonium nitrate (UAN) and
di-ammonium phosphate (DAP) based fertilizers will be available on
the New York trading floor with
clearing services available through CME ClearPort®. These contracts
are listed with, and subject to, the rules and regulations of
NYMEX.
"For more than 150 years, agricultural producers and
agribusinesses have relied on our benchmark grain futures and
options contracts to manage their commodity price risk," said
Tim Andriesen, Managing Director,
Agricultural Commodities and Alternative Investments, CME Group.
"The fertilizer products we're introducing allow market
participants to manage fertilizer prices, one of the key and most
volatile price inputs into grain production, further allowing a
focus on margin management."
Four new CME Group fertilizer swap futures will be listed on CME
ClearPort and the NYMEX trading floor:
- Urea (Granular) FOB NOLA Swap Future
- UAN FOB US Gulf Coast Swap Future
- DAP FOB Tampa Swap Future
- DAP FOB NOLA Swap Future
Clearing services for the new fertilizer swap futures 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 – expanding CME Group's
cleared OTC agricultural markets offering. Additionally, these
contracts will be financially settled against the price assessments
compiled by ICIS and Profercy.
For additional information on CME Group fertilizer swap futures,
please visit www.cmegroup.com/fertilizer.
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.
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CME-G
SOURCE CME Group