LONDON, Sept. 24, 2015 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced the first Aluminium European Premium Duty-Unpaid (Metal
Bulletin) futures contracts were traded on Tuesday, 22 September 2015 by Crunch Risk, LLC. A total of
10 futures contracts traded at a price of $72.50 per metric tonne.
"We're pleased to see early support for our new Aluminium
European Premium futures, which are an outgrowth of our existing
suite of aluminium risk management tools," said Young-Jin Chang, CME Group Senior Director of
Metals Products. "Based on the success of our Midwest premium
futures, we worked closely with the aluminium industry to develop
these contracts that enable our customers to hedge their exposure
to European premium volatility."
"This new contract from CME Group comes at a time when we've
seen significant demand from our client base in mitigating their
premium risk both in the U.S. and in Europe," said Andre
Marshall, President of Crunch Risk, LLC. "We applaud CME
Group for being first to market with this new aluminium European
premium contract and are pleased to help facilitate its launch by
brokering the first trades. Moving forward, we're optimistic about
the potential for continued growth and liquidity in this contract
as we continue to see volatile premium prices."
Industry participation in the Aluminum Midwest Premium futures
contract has steadily increased, trading the equivalent of more
than 780,725 metric tons since their launch in April 2012 and reaching a record 19,335 contracts
open interest on 1 September
2015.
Aluminium European Premium Duty-Unpaid (Metal Bulletin) futures
contracts became available for trading on 21 September and are
listed by and subject to the rules of COMEX.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
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platform and its trading facilities in New York and Chicago. CME Group also
operates CME Clearing, one of the world's leading central
counterparty clearing providers, which offers clearing and
settlement services across asset classes for exchange-traded
contracts and over-the-counter derivatives transactions. These
products and services ensure that businesses everywhere can
substantially mitigate counterparty credit risk.
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CME-G
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SOURCE CME Group