CHICAGO, Jan. 11, 2016 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced the first Aluminum Japan Premium (Platts) futures contracts were traded on Friday, January 8, 2016. A total of 622 futures contracts were traded.
"We are pleased to see some early support for our Aluminum Japan Premium futures contract," said Young-Jin Chang, Senior Director of Metals Products, CME Group. "This new futures contract complements our U.S. and European aluminum premium futures contracts along with our North American physical aluminum contract, and we now have a global suite of aluminum products to better address our customers' risk management needs."
"We're excited to have traded this new Japanese premium futures contract," said Andre Marshall, Founder, Crunch Risk, LLC. "We've seen real industry appetite for all of these new aluminum premium contracts and we're optimistic that this latest futures contract can follow the success of the Midwest and European contracts as participants become more familiar with using them to manage price risk in their business."
The Aluminum Japan Premium (Platts) futures contract is 25 metric tonnes in size and is cash-settled referencing the Platts CIF Japan Spot Premium for Aluminum which is published daily in real-time service Platts Metals Alert and in Platts Metals Daily. The contract is listed with and subject to the rules and regulations of COMEX.
For more information on CME Group's metals products, please visit www.cmegroup.com/metals.
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SOURCE CME Group