CHICAGO, March 30, 2016 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced that the first Aluminium European Premium Duty-Paid (Metal Bulletin) futures contracts were traded on Thursday, March 24, 2016. A total of 96 futures contracts were traded, equalling 2,400 metric tons.
"We are pleased to see early support for our Aluminium European Premium Duty-Paid (Metal Bulletin) contract," said Young-Jin Chang, CME Group Executive Director of Metals Products. "Our new Aluminium European Premium Duty-Paid contract responds to commercial customer demands for a solution to manage their premium price risk and complements our existing suite of aluminium risk management tools."
"The European Premium Duty-Paid contract was the missing building block in the Premium markets," said Samuel Marque, Head of Metals Trading at UniCredit. "We see it as an important tool to diversify our sources of liquidity in a market that was mostly OTC and dominated by a small number of players. We applaud CME Group for being first to market this new contract and are pleased to be in a position to facilitate its launch."
The Aluminium European Premium Duty-Paid (Metal Bulletin) futures are 25 metric tons in size and are financially settled against the Metal Bulletin assessment of duty-paid aluminium spot price transactions in Europe. 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.
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform, its trading facilities in New York and Chicago, and through its London-based CME Europe derivatives exchange. CME Group also operates one of the world's leading central counterparty clearing providers through CME Clearing and CME Clearing Europe, which offer clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.
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SOURCE CME Group