CHICAGO, March 30,
2022 /PRNewswire/ -- CME Group, the world's leading
derivatives marketplace, today announced that it will launch an
options contract on its North European Hot-Rolled Coil Steel
(Argus) futures on May 2, pending
regulatory review.
"Given price volatility and uncertainty across the global steel
supply chain, we are seeing a growing demand for European HRC Steel
options to help our clients more precisely manage their risk," said
Jin Chang, Managing Director and
Global Head of Metals at CME Group. "Open interest in our European
HRC Steel futures has surpassed 42,000 metric tons as participation
continues to grow across our entire ferrous metals complex. We look
forward to introducing options, which should complement our
clients' existing strategies and help them minimize risk."
CME Group Steel futures products have been growing steadily
since launch. 2021 was the fifth consecutive year of growth for
U.S. HRC Steel futures, reaching open interest as high as over
40,000 contracts, equivalent to over 800,000 metric tons, and
average daily trading volume hitting a record 1,100 contracts.
The global appeal of CME Group's around-the-clock liquidity
continues to attract new users, with total metals options volume
during non-U.S. hours reaching 21% of total volume last year.
North European HRC Steel options will be cash settled and based
on a monthly average price, and will be listed by and subject to
the rules of COMEX. For more information, please visit
here.
About CME Group
As the world's leading 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.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile
Exchange Inc. CBOT and Chicago 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. BrokerTec and EBS are
trademarks of BrokerTec Europe LTD and EBS Group LTD,
respectively. 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