CHICAGO, Jan. 23, 2012 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced it has expanded its centrally cleared, over-the-counter
(OTC) agricultural swap offering through the introduction of eight
new grain and oilseed swaps. The new swaps will be available for
clearing on February 13, pending
regulatory review. Among the offering are five new bullet swaps and
three additional calendar swaps, which are listed with, and subject
to, the rules and regulations of CBOT.
Additionally, these OTC agricultural swaps are the first to be
introduced by any exchange following a new CFTC agricultural swap
rule that took effect on December 31,
2011, allowing certification of agricultural swap products
under new regulations beginning in January
2012.
"These new agricultural swaps will provide customers with even
greater flexibility to manage price risk while accessing the
world's deepest and most liquid grain and oilseed markets," said
Tim Andriesen, Managing Director,
Agricultural Commodities and Alternative Investments, CME Group.
"Customers have expressed strong interest in centrally cleared
agricultural swaps as a way to complement our underlying futures.
We're confident these new financially settled swaps will provide
customers with another set of versatile hedging tools to manage
their risk."
Calendar swaps, which settle based on the average of the
underlying futures settlement prices over a one-month period, will
be offered on Soybean Meal, Soybean Oil and the Soybean Board
Crush to complement the exchange's current lineup of cleared OTC
calendar swaps. Bullet swaps on Corn, Wheat, Soybeans, Soybean Meal
and Soybean Oil represent the first bullet swap offering on
agricultural futures at CME Group. These bullet swaps will be
European-style and will settle to the corresponding futures
settlement price on the swap's final settlement day.
The addition of Soybean Board Crush swaps will, for the first
time, allow market participants to take advantage of the spread
relationship between the underlying Soybean, Soybean Meal and
Soybean Oil futures using one product.
For additional information on OTC agricultural swaps please
visit -
www.cmegroup.com/trading/agricultural/agricultural-swaps.html.
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
largest central counterparty clearing services in the world, which
provides 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,
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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