CME Group Announces the Launch of Clearing Services for New Petroleum Swap Futures
May 18 2009 - 11:10AM
PR Newswire (US)
CHICAGO, May 18 /PRNewswire-FirstCall/ -- CME Group, the world's
largest and most diverse derivatives exchange, today announced the
launch of clearing services for eight new petroleum swap futures
contracts, scheduled to launch on May 31 for trade date June 1.
Clearing services will be available through CME ClearPort(R), a set
of flexible clearing services open to over the counter (OTC) market
participants to substantially mitigate counterparty risk and
provide capital efficiencies across asset classes. These contracts
are listed for trading by NYMEX through CME ClearPort, and are
subject to NYMEX rules and regulations. The swap futures contracts
and their commodity codes will be: New York jet fuel (Platts) (1Q);
New York jet fuel (Platts) vs. heating oil (1U); propane non-LDH
Mont Belvieu (OPIS) (1R); propane non-LDH Mont Belvieu (OPIS) BALMO
(1S); jet aviation fuel (Platts) cargoes FOB Med (1T); jet aviation
fuel (Platts) cargoes FOB Med vs. ICE gasoil (1V); 1% fuel oil
(Platts) cargoes CIF Med (1W); and 1% fuel oil (Platts) cargoes CIF
NWE (1X). The contracts will appeal to both the domestic and
European airline industry for hedging and to the domestic natural
gas liquids marketplace. The first listed month will be June 2009.
All of the contracts will be listed for 36 consecutive months, with
the exception of the propane non-LDH Mont Belvieu (OPIS) BALMO swap
futures, which will be listed for up to two consecutive months, and
the propane non-LDH Mont Belvieu (OPIS) Swap Futures, which will be
listed for up to 48 consecutive months. For more information,
please visit http://www.cmegroup.com/clearport. CME Group
(http://www.cmegroup.com/) is the world's largest and most diverse
derivatives exchange. Building on the heritage of CME, CBOT and
NYMEX, 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 trading floors in Chicago and New York. By acting
as the buyer to every seller and the seller to every buyer, CME
Clearing virtually eliminates counterparty credit risk. CME
Clearing also offers financial safeguards to help mitigate systemic
risk, providing the security and confidence market participants
need to operate, invest and grow. 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, energy, agricultural commodities,
metals, and alternative investment products such as weather and
real estate. CME Group is listed on NASDAQ under the symbol "CME."
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, Inc. COMEX is a trademark of Commodity Exchange, Inc. 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, Anu Ahluwalia, +1-212-299-2439, 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/
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