SYDNEY, June 27, 2017 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced the launch of the Australian Wheat FOB (Platts) futures
contract, to begin trading on July 24,
2017, pending all relevant regulatory review periods.
The Australian Wheat FOB (Platts) futures contract will be
available for trading on CME Globex, for submission for clearing
through CME ClearPort, and will be listed with and subject to the
rules and regulations of CBOT. The financially-settled
contract will reference the Platts daily assessment of the
Australian Premium White wheat spot prices. The contract will
be U.S. dollar denominated and will be 50 metric tons per
contract.
"A significant amount of Australian wheat is sold overseas to
markets in the Middle East and
Asia, and with this new contract,
international traders can now take exposure to export prices of
Australian wheat without having to take physical delivery," said
Nelson Low, Executive Director,
Agricultural Products, CME Group. "The addition of this new
Australian wheat futures contract to our already robust suite of
global wheat benchmarks increases our capacity to provide a
convenient one stop venue for all wheat risk management needs, and
the platform for market participants to create spreading
opportunities with other CBOT wheat contracts."
"Since starting its coverage of the Asia-Pacific wheat markets a little over 18
months ago, S&P Global Platts has established itself as a
trusted independent source for detailed, concise and timely price
information," said Ian Dudden,
Global Content Director, Agriculture at S&P Global Platts. "We
believe the marketplace benefits from price formation and risk
management tools that reflect regional fundamentals and welcome
this recognition by CME Group of the role our price assessments can
play in bringing greater transparency and efficiency to global
grains markets."
This new Australian Wheat FOB (Platts) futures contract
complements CME Group's existing suite of global wheat benchmarks,
including Euro-denominated EU Wheat, Soft Red Winter Wheat, Hard
Red Winter Wheat and Black Sea Wheat futures and options
contract. For more information on CME Group's suite of wheat
products, please visit:
http://www.cmegroup.com/trading/agricultural/wheat-futures.html
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. Through its exchanges, CME Group offers 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 products and
metals. CME Group provides electronic trading globally on its
CME Globex platform. The company also offers clearing
and settlement services across asset classes for exchange-traded
and over-the-counter derivatives through its clearinghouses CME
Clearing and CME Clearing Europe. CME Group's products and
services ensure that businesses around the world can effectively
manage risk and achieve growth.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex and E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT, Chicago Board of
Trade, KCBT and Kansas City 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. Dow Jones, Dow Jones Industrial Average,
S&P 500 and S&P are service and/or trademarks of Dow Jones
Trademark Holdings LLC, Standard & Poor's Financial Services
LLC and S&P/Dow Jones Indices LLC, as the case may be, and have
been licensed for use by Chicago Mercantile Exchange Inc. All
other trademarks are the property of their respective
owners.
CME-G
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SOURCE CME Group