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CME Group Announces the Launch of Clearing Services for Physical Natural Gas Liquids

 

CHICAGO, July 1 /PRNewswire-FirstCall/ -- CME Group, the world's largest and most diverse derivatives exchange, today announced the launch of clearing services for six new physically delivered natural gas liquids futures contracts. Clearing services will be available through CME ClearPort(R), a set of flexible clearing services open to over-the-counter (OTC) market participants to substantially mitigate counterparty risk and provide capital efficiencies across asset classes, beginning on July 19 for trade date July 20. These contracts are listed for trading by NYMEX through CME ClearPort and are subject to NYMEX rules and regulations.

The new futures contracts and their commodity codes include: Mont Belvieu physical LDH propane (OPIS) (3N) with delivery at the LDH facility in Mont Belvieu, Texas; Mont Belvieu physical non-LDH propane (OPIS) (3P); Mont Belvieu physical normal butane (OPIS) (3M); Mont Belvieu physical natural gasoline (OPIS) (3R); Mont Belvieu physical iso-butane (OPIS) (3L); and Mont Belvieu physical ethane (OPIS) (3Q). The Non-LDH propane contract as well as the other four physical NGL contracts will be delivered at the Enterprise facility in Mont Belvieu, Texas.

Clearing services for these NGL contracts are designed to help domestic producers, end-users, and retailers meet their hedging needs.

The first listed month for these contracts will be August 2009. The physical LDH propane and non-LDH propane futures contracts will be listed for 48 consecutive months. The other contracts will be listed for 36 consecutive months.

For more information, please visit www.cmegroup.com/clearport.

CME Group (www.cmegroup.com) is the world's largest and most diverse derivatives exchange. Building on the heritage of CME, CBOT and NYMEX, CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on trading floors in Chicago and New York. By acting as the buyer to every seller and the seller to every buyer, CME Clearing virtually eliminates counterparty credit risk. CME Clearing also offers financial safeguards to help mitigate systemic risk, providing the security and confidence market participants need to operate, invest and grow. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, and alternative investment products such as weather and real estate. CME Group is listed on NASDAQ under the symbol "CME."

The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex, E-mini and CME ClearPort are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX and New York Mercantile Exchange are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group and its products can be found at www.cmegroup.com.

CME-G

SOURCE CME Group

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