CME Group Announces the Launch of New European Union Allowance (EUA) and Certified Emission Reduction (CER) Futures and Options
June 16 2009 - 5:37PM
PR Newswire (US)
CHICAGO, June 16 /PRNewswire-FirstCall/ -- CME Group, the world's
largest and most diverse derivatives exchange, today announced the
launch of four new In Delivery Month European Union Allowance (EUA)
and Certified Emission Reduction (CER) futures and options
contracts that will be available through CME ClearPort(R) and the
New York trading floor. Clearing services will be available through
CME ClearPort, 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. The futures contracts will be available beginning on June
21 for trade date June 22 and the options contracts on June 22 for
trade date June 23. These contracts are listed for trading by NYMEX
through CME ClearPort, and are subject to NYMEX rules and
regulations. "These new green products reflect the needs of the
customers who trade in this dynamic and evolving space," said CME
Group Managing Director of Products and Services Rick Redding. "We
have been working with the industry to develop products that will
mitigate risk, while providing opportunities to trade in their
venue of choice, utilizing both our electronic and open outcry
platforms." The EUA and CER contracts will be 1,000 units in size
with a minimum price fluctuation of euro 0.01 per EUA. The futures
contracts will expire on the last Monday of the delivery month. The
European style options contracts will expire three business days
prior to the expiration of the underlying futures contracts. The
new contracts and their commodity codes will be: in delivery month
EUA futures (6T); in delivery month EUA options (6U); in delivery
month CER futures (6S); in delivery month CER options (6P). The
termination and delivery dates differentiate these contracts from
the existing EUA and CER futures and options contracts, which will
continue to be available for trading. It is intended that these
products will be listed for trading as part of the Green Exchange
venture once that venture has sought and achieved appropriate
regulatory status. Green Exchange venture will be working with U.S.
and European regulators and intends to seek recognition in the U.S.
as a designated contract market and approval from the FSA in the
U.K. CME Group is one of the founding members of Green Exchange
Holdings LLC. For more information, please visit
http://www.cmegroup.com/. 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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