TOKYO, Feb. 27, 2012 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, and RIM
Intelligence, Japan's foremost
provider of energy price and information services, today announced
they have signed an agreement to develop clearing services for
over-the-counter (OTC) risk management products used by the
Japanese energy industry. The products will be listed and subject
to the rules of NYMEX and cleared through CME ClearPort.
"As we grow our energy business across the globe, partnerships
with market-leading pricing organizations like RIM Intelligence are
central to CME Group's strategy of developing regional products and
services for customers," said Gary
Morsches, Managing Director Energy Products at CME
Group. "RIM's prices are the trusted yardstick in the
Japanese energy market and we look forward to delivering clearing
services which will substantially mitigate counterparty risk for
users of RIM-based products."
"Our energy prices are used as a benchmark both within
Japan and in international
markets. We are delighted to be the first Japanese company to work
with CME Group in an energy price-related field. Through this
co-operation, we hope to see active participation by market players
and to contribute to the overall vibrancy and liquidity of
over-the-counter trades in the energy market," said Hisako Mori, President of RIM Intelligence.
CME Group's global energy risk management tools include the
crude oil benchmark WTI and Brent contracts, as well as futures and
options on asset classes including natural gas, electricity,
heating oil and ethanol. Serving the global OTC market, CME
ClearPort is a comprehensive set of flexible clearing services,
offering a range of cleared swaps for customers wishing to manage
price risk in energy and other commodity sectors.
Founded in 1984, RIM Intelligence is Japan's most established energy pricing vendor
and has distinguished itself as the leading supplier of quality
information on energy markets not only within Japan but also in the international arena,
with an emphasis on accuracy and timeliness. RIM provides price
assessments for various energy markets including crude oil,
petroleum products, LNG, LPG and petrochemicals to clients
throughout the world.
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