LONDON, May 15, 2015 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced the launch of options on its Physically Delivered Cocoa futures contracts. These options will be listed on CME Group's European exchange, CME Europe, for first trade date on 29 June, 2015. Cocoa options are authorised and approved by the United Kingdom (UK) Financial Conduct Authority.
The introduction of Cocoa options (contract code CEY) follows the successful launch of CME Europe Cocoa futures (contract code CCP), which have traded more than 2,500 contracts since inception and have nearly 900 contracts open interest.
"We're pleased with the success of our deliverable cocoa futures contract, which has been trading steadily since its launch on 30 March, 2015," said Jeffry Kuijpers, Executive Director, Agricultural Commodities, CME Group. "With the addition of cocoa options, our customers will now have enhanced hedging capabilities and greater flexibility to mitigate cocoa price risk throughout the supply chain."
These new Cocoa options are the result of extensive consultation and collaboration with many of the leading participants in the international cocoa trade and industry. These contracts will be denominated in euros beginning with the September 2015 listed month.
These contracts will be subject to the rules of CME Europe and cleared via CME Clearing Europe, CME Group's European clearing house. A complete list of products, members and product specifications can be found at www.cmegroup.com/europe.
For more information on Cocoa options, visit www.cmegroup.com/cocoa.
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