CHICAGO, Aug. 30, 2011 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced modifications to its Wheat futures contract as part of
its regular and ongoing contract review process. The modifications,
which are the result of feedback from a broad cross section of
wheat futures industry participants, will go into effect in two
phases. These contracts are listed with, and subject to, the rules
and regulations of the CBOT.
"As a part of our regular and ongoing contract review process,
and working together with a broad cross section of industry
participants, we have identified several wheat futures contract
modifications to ensure the contract continues to meet customer
trading and risk management needs," said Tim Andriesen, Managing Director, Agricultural
Commodities and Alternative Investments, CME Group.
Since February 2011, CME Group has
been discussing potential contract modifications with industry
participants. As a result of industry feedback, the following
modifications will be implemented with the September 2013 wheat futures contract:
- Eliminate wheat containing four parts per million (ppm)
vomitoxin from deliverable grades.
- Increase the discount for wheat containing three ppm vomitoxin
from 12 cents per bushel to
20 cents per bushel.
- Reduce the discount for wheat delivered in the Northwest Ohio delivery territory from
20 cents per bushel to 10 cents per bushel.
Beginning December 1, 2011, the
exchange will allow the Hard Red Winter, Dark Northern Spring and
Northern Spring wheat grades to be deliverable in the St. Louis delivery territory. Currently these
classes of wheat are deliverable at all other delivery
locations.
"These changes are focused primarily on improving the quality
and merchantability of the wheat in the delivery system," said
Andriesen. "We believe these modifications will further enhance the
strong convergence we have seen in recent contract delivery
periods."
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
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered 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