CHICAGO and TOKYO, Feb. 21,
2016 /PRNewswire/ -- CME Group, the world's leading and
most diverse derivatives marketplace, today announced that it has
expanded its suite of energy product offerings with the
introduction of a new LNG DES Japan (Rim) futures contract to begin
trading effective today. The new contract is now available for
trading through Japan OTC Exchange and other OTC brokers, and
for submission to CME Clearing through CME ClearPort. It is
listed with and subject to the rules and regulations of NYMEX.
"This new LNG DES Japan (Rim) futures contract will provide the
markets an additional tool in managing LNG price risk, as the
deregulation of the Japanese energy markets continues to pick up
pace," said Alan Bannister,
Executive Director of Energy Products, Asia Pacific, CME Group. "At the same
time, market participants trading this particular contract will now
have greater flexibility in managing counterparty risk through
submitting their trades to CME Clearing via the Japan OTC Exchange
as well as through OTC brokers."
"This is an exciting development for the energy markets in
Asia, and specifically for the
Japan LNG markets," said Christopher
Fix, Managing Director and Head of Asia-Pacific of CME Group. "Together
with our partners Rim Intelligence, we are committed to
continuously creating relevant risk management products to cater to
the needs of our clients and the markets."
"We hope that the launch of the LNG DES Japan (Rim) futures, the
first of its kind in the world, will provide players involved in
the LNG business with a wider range of trading options, including
risk hedging opportunities," said Hisako
Mori, President of Rim Intelligence. "As Japan is the
largest LNG importer in the world, DES Japan as a price index could
well play an essential role in LNG trading going forward."
"Japan OTC Exchange, Inc. (JOE) welcomes this development, as
the new LNG DES Japan (Rim) futures contract opens the gateway for
LNG transactions on JOE with a world-class clearing service," said
Takamichi Hamada, President &
CEO of Tokyo Commodity Exchange (TOCOM) and Member of the
Management Committee of JOE. "Thanks to the clearing service
provided by CME Clearing, JOE can now provide its members with a
risk management tool with improved safety, which I believe will
lead to the further development of the LNG market in Asia."
The LNG DES Japan (Rim) futures contract will be 10,000 MMBtu in
size, and will be cash-settled referencing the Spot LNG Price
Assessment - DES Japan (DJ) by Rim Intelligence.
For more information on CME Group's energy products, please
visit http://www.cmegroup.com/trading/energy/.
About CME Group
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, its trading facilities in New
York and Chicago, and
through its London-based CME
Europe derivatives exchange. CME Group also operates one of
the world's leading central counterparty clearing providers through
CME Clearing and CME Clearing Europe, which offer 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. 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