LONDON and CHICAGO, Dec. 9, 2015 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced that it has won two categories at the Futures and Options World (FOW) International Awards:
- Exchange of the Year - U.S. and Canada
- Most Innovative New Contract Launch by an Exchange - Cocoa on CME Europe
CME Group was named as Exchange of the Year in the U.S. and Canada. FOW cited CME Group for being at the forefront of innovation with the expansion of its commodities offering in cocoa, zinc and aluminum; the introduction of the first-ever physically delivered crude oil storage futures contract and a double digit growth in volumes partly due to European clients flocking to trade CME's Eurodollar contract.
"We appreciate the recognition of FOW and its readers in choosing CME as Exchange of the Year," said Executive Chairman and President Terry Duffy. "Given volatility in markets this year, risk management continues to be more important than ever, and we are pleased to facilitate that for our customers around the world with innovative products, the safety and security of our clearing houses and industry-leading technology."
CME Europe, CME Group's European exchange, picked up the award for Most Innovative New Contract Launch by an Exchange for its Cocoa futures launched in March 2015. The contract design was a result of extensive consultation and collaboration with many of the leading participants in the international cocoa trade and industry.
"We are delighted to be recognised for our contribution to the cocoa market," said Cees Vermaas, CEO of CME Europe. "We saw an opportunity to not only create an innovative contract that reduced risk, decreased costs and increased efficiencies, but also to overhaul actual physical procedures and systems that underpinned that contract. The contract has been successfully trading since launch and welcomed by a broad range of market participants."
The FOW International Awards are designed to recognise the pioneers of the global derivatives market across a range of categories and disciplines. Companies are invited to enter into relevant categories, after which a shortlist is drawn up and voted on by a panel of expert judges.
The awards were presented at FOW International Awards Gala Dinner on 8 December 2015 at Grange City Hotel in London. This was held following the FOW's "Derivatives World London: The Debates", an event which brought together high-level delegates from across the derivatives industry to discuss key themes and trends that are shaping the industry.
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.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. KCBOT, KCBT and Kansas City Board of Trade are trademarks of The Board of Trade of Kansas City, Missouri, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com.
SOURCE CME Group