CME Group Lists Weather Contracts on Seven New Cities
May 19 2008 - 10:00AM
PR Newswire (US)
CHICAGO, May 19 /PRNewswire-FirstCall/ -- CME Group, the world's
largest and most diverse derivatives exchange, announced that it is
expanding its suite of temperature-based products and is offering
weather contracts on six U.S. cities and one European city. Cooling
Degree Day contracts are available for trading starting today with
Heating Degree Day and Weekly contracts to start in June and July,
respectively. The new cities include Oslo, Norway; Little Rock,
Ark.; Los Angeles, Calif.; Colorado Springs, Colo.; Jacksonville,
Fla.; Raleigh, N.C.; and Washington DC bringing the total number of
city-based temperature contracts to 42. "Adding these new cities to
our weather complex furthers our commitment to our customers to
offer an even broader range of options to manage risk associated
with the weather," Felix Carabello, Director of Alternative
Investment Products at CME Group, said. "These contracts enable
energy and utility companies, retailers and others that face
business uncertainty as a result of unusually hot or cold
temperatures to transfer their exposure to the capital markets."
With the addition of these new contracts, CME Group will offer
weather contracts based on aggregate temperatures for 42 cities,
including 24 throughout the U.S., 10 in Europe, six in Canada and
two in Japan. CME Group also lists products used to hedge risk
associated with hurricanes and snowfall. For more information on
CME Group weather contracts, please go to
http://www.cmegroup.com/trading/weather/index.html. 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, Mary Haffenberg,
+1-312-930-3435, or Allan Schoenberg, +1-312-930-8189, , or
Investors, John Peschier, +1-312-930-8491, all of CME Group Web
site: http://www.cmegroup.com/
http://www.cmegroup.com/trading/weather/index.html
http://www.cmegroup.mediaroom.com/
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