LONDON, July 25, 2019 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced the launch of Black Sea Sunflower Oil Financially Settled
(Platts) futures (based on Sunflower Oil FOB Black Sea Ukraine), to
begin trading on August 26, 2019,
pending all relevant regulatory review periods.
The contract is being introduced after a wide-ranging
consultation with the industry and in response to client demand for
risk management tools to manage price volatility in the global
sunflower oil market. It follows the successful launch of CME
Group's financially settled Black Sea Wheat and Black Sea Corn
contracts, which have traded over 300,000 contracts since launch
with a combined open interest of 40,000 contracts.
"CME Group edible oil futures have been an integral part of the
physical oilseed industry, facilitating price discovery and risk
transfer for merchants, crushers, processors, traders and
industrial consumers around the globe," said Tim Andriesen, Managing Director, Agricultural
Products, CME Group. "The addition of Black Sea Sunflower Oil to
our Soybean Oil and Malaysian Crude Palm Oil futures contracts
makes CME the global destination of choice for customers hedging
and risk management needs in the edible oil markets."
Black Sea Sunflower Oil Financially Settled (Platts) futures
will be financially settled based on the "Sunflower Oil FOB Black
Sea Ukraine" price assessment published by S&P Global Platts
each business day. The futures will be quoted in US$ and cents per
tonne and have a contract size of 25 metric tonnes. The first
listed month will be the November
2019 contract, with a further 11 consecutive months
available for trading - out to October
2020.
Ian Dudden, Global Content
Director, Metals and Agriculture at S&P Global Platts said, "We
are pleased that the CME Group and market participants recognise
the important role our independent Sunflower Oil price assessment
plays in creating price transparency, which in turn provides
opportunities for the provision of risk management tools that bring
greater efficiency to the global agriculture markets."
The new futures contract will be available for trading on CME
Globex and CME ClearPort, and will be listed with and subject to
the rules and regulation of CBOT. For more information on CME
Group's Black Sea products, including Black Sea Sunflower Oil
Financially Settled (Platts) futures, please visit:
www.cmegroup.com/blacksea.
For more information about S&P Global Platts agriculture
price assessments, please click here.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) enables clients to trade futures,
options, cash and OTC markets, optimize portfolios, and analyze
data – empowering market participants worldwide to efficiently
manage risk and capture opportunities. CME Group exchanges offer
the widest range of global benchmark products across all major
asset classes based on interest rates, equity
indexes, foreign exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex® platform, fixed
income trading via BrokerTec and foreign exchange trading on the
EBS platform. In addition, it operates one of the world's leading
central counterparty clearing providers, CME Clearing. With a
range of pre- and post-trade products and services underpinning the
entire lifecycle of a trade, CME Group also offers optimization and
reconciliation services through TriOptima, and trade processing
services through Traiana.
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