CHICAGO, July 20, 2016 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced that the first Aluminum A380 Alloy (S&P Global
Platts) futures contracts were traded on Tuesday, July
19, 2016. A total of 50 futures contracts were traded across
the August through December 2016
contract months.
"We're pleased to see early support for our new Aluminum A380
Alloy (S&P Global Platts) futures contract,"
said Young-Jin Chang, CME Group Executive Director, Global
Head of Metals Products. "Working with the industry we believe
we've introduced risk management tools that better reflect the way
commercial customers price their physical contracts based on the
Platts assessment of A380 alloy. This new contract provides our
customers with an effective and transparent solution for hedging
aluminum alloy price risk."
"We're excited to have traded these new aluminum A380 alloy
contracts," said Andre Marshall,
Founder, Crunch Risk, LLC. "We've seen a great deal of commercial
interest in these new aluminum alloy contracts and are optimistic
that this latest innovation from CME Group can replicate the growth
and success of the Midwest and European contracts as participants
become more familiar with using them to manage price risk in their
business."
Aluminum A380 Alloy (S&P Global Platts) futures are 44,092
pounds (equivalent to 20 metric tons) in size and financially
settled against the S&P Global Platts assessment of the MW US
A380 Alloy.
For more information on CME Group's metals products, please
visit www.cmegroup.com/metals.
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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Around the world, CME Group brings buyers and sellers together
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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 and over-the-counter derivatives. CME
Group's products and services ensure that businesses around the
world can effectively manage risk and achieve growth.
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CME-G
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SOURCE CME Group