CME Group to Launch Contracts on Nonfarm Payrolls
March 11 2008 - 10:01AM
PR Newswire (US)
CHICAGO, March 11 /PRNewswire-FirstCall/ -- CME Group, the world's
largest and most diverse derivatives exchange, announced today that
futures and options on futures on the U.S. Bureau of Labor
Statistics' (BLS) Nonfarm Payroll data are scheduled to launch
Sunday, April 27, 2008, in anticipation of the Friday, May 2,
release of the April economic data. The contracts, based on the
monthly BLS Establishment Survey of 375,000 businesses that is
usually released on the first Friday of each month, will allow
customers to directly manage their exposure to the government labor
number or to offset positions in financial markets. The Nonfarm
Payroll report is typically the first major economic release of
each month and speaks to the condition of employment from the prior
month. It is closely followed as a way to gauge how the Federal
Open Markets Committee perceives economic growth. "There is a
strong correlation between the Nonfarm Payroll report and CME Group
financial futures contracts as well as other financial
instruments," said Rick Redding, CME Group Managing Director of
Products and Services. "Listed futures and options on futures on
the Nonfarm Payroll are a transparent, straightforward and
accessible way for our customers to offset unexpected financial
market moves that often occur when this number comes out." The
Nonfarm Payroll contracts will be listed exclusively on the CME
Globex(R) electronic trading platform, Sunday through Thursday from
5:00 p.m. to 4:00 p.m. Chicago time. One contract will be listed at
a time and each contract will be listed on the Monday after the
previous month's release. Trading in the expiring contract
concludes at 7:25 a.m. on the day that the BLS releases its Nonfarm
Payroll report. Each contract is valued at $25 times the change in
the Nonfarm Payroll number from the previous month. For more
information, please go to http://www.cmegroup.com/NFP. CME Group
(http://www.cmegroup.com/) is the world's largest and most diverse
derivatives exchange. Formed by the 2007 merger of the Chicago
Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT),
CME Group serves the risk management needs of customers around the
globe. As an international marketplace, CME Group brings buyers and
sellers together on the CME Globex electronic trading platform and
on its trading floors. CME Group offers the widest range of
benchmark products available across all major asset classes,
including futures and options based on interest rates, equity
indexes, foreign exchange, agricultural commodities, and
alternative investment products such as weather and real estate.
CME Group is traded on the New York Stock Exchange and NASDAQ under
the symbol "CME." The Globe logo, CME, Chicago Mercantile Exchange,
CME Group, Globex and E-mini, 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. These trademarks are used
herein under license. All other trademarks are the property of
their respective owners. Further information about CME Group and
its products can be found at http://www.cmegroup.com/. CME-G
DATASOURCE: CME Group CONTACT: Media, Pamela Plehn,
+1-312-930-3446, or Allan Schoenberg, +1-312-930-8189, ,
http://www.cmegroup.mediaroom.com/, or Investors, John Peschier,
+1-312-930-8491, all of CME Group Web site:
http://www.cmegroup.com/
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