CHICAGO, June 20,
2023 /PRNewswire/ -- CME Group, the world's leading
derivatives marketplace, today announced that it will launch a
Lithium Carbonate futures contract on July
17, 2023, pending all relevant regulatory reviews.
Lithium Carbonate CIF CJK (Fastmarkets) will be
financially-settled based on the battery-grade Lithium Carbonate
assessment published by Fastmarkets. Lithium Carbonate futures are
complementary to CME Group's Lithium Hydroxide CIF CJK
(Fastmarkets) futures and will help establish a forward curve for
Lithium Carbonate, offering market participants more transparency
and choice for their different battery chemistry preferences.
"As electric vehicle sales continue to surge, we are pleased to
introduce a second Lithium futures contract, which will provide
market participants with more tools to manage price risk across a
variety of raw battery materials," said Jin
Chang, Managing Director and Global Head of Metals at CME
Group. "CME Group first entered the battery metals space just a few
years ago and has quickly become the venue of choice for managing
EV risk. Open interest in our Cobalt contract recently hit a record
of over 20,000 tons, and trading in our Lithium Hydroxide contract
has already surpassed full-year 2022 volume, with over 2,000 tons
traded year-to date, versus 400 tons last year."
CME Group offers risk management products across a wide range of
electric vehicle components, including battery metals, Copper,
Silver, Aluminum and Steel. These products continue to grow along
with Cobalt and Lithium:
- Copper futures and options volume year-to-date is up 38%
- Aluminum futures volume year-to-date is up 305%
- Silver futures and options volume year-to-date is up 15%
- Steel futures and options volume year-to-date is up 28%
Lithium Carbonate futures will be listed by and subject to the
rules of COMEX. For contract specifications, or for more
information on CME Group's battery metals products, please visit:
http://cmegroup.com/lithiumcarbonate.
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.
The S&P 500 Index is a product of S&P Dow Jones Indices LLC
("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500
and The 500 are trademarks of Standard & Poor's Financial
Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average
are service and/or trademarks of Dow Jones Trademark Holdings LLC.
These trademarks have been licensed for use by Chicago Mercantile
Exchange Inc. Futures contracts based on the S&P 500 Index are
not sponsored, endorsed, marketed, or promoted by S&P DJI, and
S&P DJI makes no representation regarding the advisability of
investing in such products. All other trademarks are the property
of their respective owners.
CME-G
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SOURCE CME Group