CHICAGO, Nov. 16, 2011 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
released the following statement on the Enterprise Products
Partners L.P. and Enbridge Inc. reversal of the Seaway
pipeline:
"We're pleased to congratulate Enterprise and Enbridge on the
reversal of the Seaway crude oil pipeline," said Bryan Durkin, chief operating officer and
managing director, products and services, CME Group. "With its
reversal, Seaway will be an important addition to our domestic
infrastructure and represents a major development for the North
American crude oil market. We believe this new project will enhance
the significance of our NYMEX Light Sweet Crude Oil (WTI)
benchmark.
The reversal of the pipeline, which is expected to begin service
in the second half of 2012, will enable the transport of WTI light
sweet crude oil from Cushing,
Oklahoma, to the U.S. Gulf Coast.
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