LONDON and CHICAGO, Oct. 25,
2022 /PRNewswire/ -- CME Group, the world's leading
derivatives marketplace, and Marex, one of the largest global
metals brokers, today announced that Marex will expand its clients'
access to CME Group's base metals markets, starting first with CME
Group's global Aluminum futures contract.
"We continue to make tremendous progress in growing our
physically-delivered Aluminum futures and offering market
participants an alternative way to manage their Aluminum price
risk," said Jin Chang, Managing
Director and Global Head of Metals at CME Group. "Our around the
clock access, global footprint and industry-leading technology are
strong competitive advantages and we are pleased that Marex will
offer our Aluminum markets on its Neon Metals platform as part of
its global expansion plans. We look forward to providing Marex
customers with the transparency and reliability that comes with
transacting with CME Group."
"Expanding into CME Group's Aluminum markets responds directly
to demand from our clients for access to alternative markets, but
also aligns with our strategy to build a more global,
technology-focused presence, which will better serve our client
needs now and into the future," said Simon
van den Born, President at Marex. "To complement the market
access, we will also expand our research and markets coverage to
include CME Group's Aluminum and other base metals markets. This
supports CME Group's efforts to create a more robust marketplace
that benefits the entire industry."
CME Group Aluminum markets have already seen an influx of new
participation this year, reaching a single day volume record on
October 5 of 7,929 contracts and an
average daily volume of approximately 3,000 contracts in October
month-to-date. Open interest reached a record of 1,411 contracts on
October 19, 2022. Q3 also saw record
volume of over 2,300 contracts per day, surpassing the previous
quarterly record by approximately 1,000 contracts. July and
September were the top two trading months ever recorded at 2,659
and 2,642 contracts per day respectively.
Aluminum (Product Code: ALI) futures are 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.
About Marex
Marex is a diversified global financial services platform,
providing essential liquidity, market access and infrastructure
services to clients in the energy, commodities and financial
markets.
The Group provides comprehensive breadth and depth of coverage
across five core services: Market Making, Execution and Clearing,
Hedging and Investment Solutions, Price Discovery and Data &
Advisory. It has a leading franchise in many major metals, energy
and agricultural products, executing around 38 million trades and
clearing over 193 million contracts in 2021. The Group provides
access to the world's major commodity markets, covering a broad
range of clients that include some of the largest commodity
producers, consumers and traders, banks, hedge funds and asset
managers.
Marex was established in 2005 but through its subsidiaries can
trace its roots in the commodity markets back almost 100 years.
Headquartered in London with 22
offices worldwide, the Group has over 1,300 employees across
Europe, Asia and America.
For more information visit www.marex.com
CME-G
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SOURCE CME Group