CHICAGO and SAO PAULO, June 22,
2020 /PRNewswire/ -- CME Group, the world's leading and
most diverse derivatives marketplace, and B3 S.A., one of the
world's largest financial market infrastructure companies,
announced an agreement to jointly develop risk management products
for both Brazilian domestic and global market participants. Under
the terms of the agreement, CME Group and B3 will work together to
launch futures on Brazilian soybeans in Q3 2020, pending regulatory
approvals.
These new futures contracts will build on the existing
cooperation agreement CME Group and B3 have had in place since 2007
for technology services and cross-listing of futures
products. The new, expanded agreement also includes the
extension of the existing B3 cross-listed mini-soybean futures and
options contracts, and will allow the companies to evaluate
potential products related to South American soybean and
soybean-related products.
"Brazil is an important player
in the global grain and oilseed trade and is expected to export
over 83 million metric tons of soybeans this year alone," said
Tim Andriesen, CME Group Managing
Director of Agricultural Products. "These new futures contracts
respond to the demand from our customers for regional hedging and
price discovery tools that complement the deep liquidity of our
benchmark grain and oilseed futures and options."
"This expanded strategic partnership will bring even greater
benefits to our Brazilian customers by providing a benchmark
specifically related to Brazilian soybean export prices," said
Louis Gourbin, Superintendente, Commodities at B3. "As our
relationship grows, we are excited to explore joint risk management
products that will bring additional South American-based trading
solutions to the global marketplace."
For more information, visit:
www.cmegroup.com/brazilian-soybeans.
About CME Group
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) enables clients to trade futures,
options, cash and OTC markets, optimize portfolios, and analyze
data – empowering market participants worldwide to efficiently
manage risk and capture opportunities. CME Group exchanges offer
the widest range of global benchmark products across all major
asset classes based on interest rates, equity
indexes, foreign exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex® platform, fixed
income trading via BrokerTec and foreign exchange trading on the
EBS platform. In addition, it operates one of the world's
leading central counterparty clearing providers, CME
Clearing. With a range of pre- and post-trade products and
services underpinning the entire lifecycle of a trade, CME Group
also offers optimization and reconciliation services through
TriOptima, and trade processing services through Traiana.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board
of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are trademarks of New York
Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are
trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB,
and Traiana, Inc., respectively. Dow Jones, Dow Jones
Industrial Average, S&P 500 and S&P are service and/or
trademarks of Dow Jones Trademark Holdings LLC, Standard &
Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as
the case may be, and have been licensed for use by Chicago
Mercantile Exchange Inc. All other trademarks are the
property of their respective owners.
About B3
B3 S.A. (B3SA3) is one of the main financial market
infrastructure companies in the world and one of the largest in
terms of market capitalization among global leaders in the exchange
industry. B3 connects, develops and enables the financial and
capital market and, together with customers and society,
boosts Brazil's growth. It trades in stock exchange
and OTC environments, and offers products and services to the
financing chain. Headquartered in São Paulo and with
offices London and Shanghai, B3 performs important
functions in the market by promoting best practices in corporate
governance, risk management and sustainability. B3. With the
market. For the future.
CME-G
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content:http://www.prnewswire.com/news-releases/cme-group-and-b3-to-jointly-develop-new-soybean-futures-contracts-connecting-global-participants-to-brazilian-agricultural-markets-301080718.html
SOURCE CME Group