LONDON, Sept. 25, 2015 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced the first trades of its new Fertilizer futures contracts
on CME Europe, CME Group's European exchange. The contract traded
for the first time on Monday, 21 September 2015.
The trade comprised of 200 lots of the December 2015 Urea (Granular) FOB Middle East
futures contact, and was brokered by Freight Investor Services in
London for corporate clients.
CME Group has developed a suite of financial-settled fertilizer
futures for its European exchange, including products for the
Chinese and Middle Eastern Urea markets. These products are
available on CME ClearPort and CME Globex and sit alongside other
agricultural products on the exchange, including Cocoa futures and
options. The contracts are cleared through CME Clearing Europe, CME
Group's dedicated European clearing house.
"Our fertilizer contracts offer new risk transfer and price
management tools for the volatile global fertilizer markets, and
it's great to see market participants start to adopt these
contracts to manage their risk," said Jeffry Kuijpers, Executive Director,
Agricultural Commodities & Alternative Investments, CME Group.
"These contracts build on CME Group's expertise in developing
agricultural products, including our existing suite of fertilizer
swaps. Customers who use these contracts will be eligible for
capital efficiencies and margin offsets through clearing services
on CME Clearing Europe."
"FIS has been instrumental in fostering and developing the
fertilizer derivatives market and responding to the needs of
commercial customers and traders. The introduction of the
Middle East granular urea (fob)
futures contract to the market has been a logical response to the
changing dynamics in the fertilizer market," said Ron Foxon, Senior Fertilizer Derivatives Broker
with Freight Investor Services. "We are very pleased to have
brokered the first trade and believe that this initial trade will
be the starting point for significant growth in volumes and
liquidity for Middle East granular
urea (fob) futures contracts cleared on CME Europe."
These fertilizer contracts are subject to the rules of CME
Europe and CME Clearing Europe. Details of the new contracts are
set out below and full contract specifications can be found
at http://www.cmegroup.com/europe/products. A complete
list of products and specifications can be found
at http://www.cmegroup.com/europe.
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
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers
together through its CME Globex® electronic trading
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.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange,
Inc. KCBOT, KCBT and Kansas
City Board of Trade are trademarks of The Board of Trade of
Kansas City, Missouri, Inc.
All other trademarks are the property of their respective owners.
Further information about CME Group (NASDAQ: CME) and its products
can be found at www.cmegroup.com.
CME-G
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SOURCE CME Group