CHICAGO and LONDON, Dec. 4, 2024
/PRNewswire/ -- CME Group, the world's leading derivatives
marketplace, today announced it will provide CME Term €STR
Reference Rates to meet client demand for a term rate anchored in
€STR markets.
Published in beta today, the rates are based on CME Group's
liquid €STR futures and OTC swap market data. They are published in
1-month, 3-month, 6-month and 12-month tenors.
"We are introducing €STR term rates in response to client demand
for a more robust and transparent term rate for the growing €STR
ecosystem," said Max Ruscher, Head
of Benchmark Services, CME Group. "Building on the increasing
liquidity in our €STR futures market and OTC trade data, our term
rate is based on comprehensive derivatives transactions data that
will help clients build lending and fixed income products."
€STR futures at CME Group have grown rapidly with open interest
exceeding 70,000 contracts, with widespread participation in the
market from over 250 end users. Since their launch in October 2022, over 5 million contracts have been
traded in total.
Institutions interested in the CME Term €STR Reference
Rates can learn more here. While the rates are in beta, they are
displayed solely for information and evaluation purposes, and are
not available for use (including as a reference, index or benchmark
in financial instruments, financial contracts or investment funds)
until further notice and an appropriate license is entered
into.
CME Group Benchmark Administration Limited (CBA) is the
benchmark administrator for CME Term SOFR, the global benchmark for
new U.S. dollar lending as implied by transactions in derivatives
markets. It is the first and only benchmark to be formally
recommended by the Alternative Reference Rates Committee, with more
than $7 trillion in loans from 90+
countries now referencing this rate.
As the world's leading 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.
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 is a trademark of BrokerTec Americas LLC
and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a
product of S&P Dow Jones Indices LLC ("S&P DJI").
"S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are
trademarks of Standard & Poor's Financial Services LLC; Dow
Jones®, DJIA® and Dow Jones Industrial Average are service and/or
trademarks of Dow Jones Trademark Holdings LLC. These trademarks
have been licensed for use by Chicago Mercantile Exchange Inc.
Futures contracts based on the S&P 500 Index are not sponsored,
endorsed, marketed, or promoted by S&P DJI, and S&P DJI
makes no representation regarding the advisability of investing in
such products. All other trademarks are the property of their
respective owners.
CME-G
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SOURCE CME Group