CME Starts Six New Petroleum Futures Contracts Based on Platts’ Physical Market Price Assessments in Gasoline and Fuel Oil

NEW YORK, April 26 /PRNewswire/ -- Platts – CME Group, the Chicago-based derivatives marketplace (CME), today introduced trading and clearing services for six new petroleum futures contracts based on Platts’ physical market price assessments in gasoline and fuel oil.  Platts is a leading global energy and metals information provider and a top publisher of global benchmark price references since 1909.

“We’re committed to bringing greater transparency and efficiency to the physical energy markets through our publications and services and welcome the futures industry’s recognition of the role we play in the price discovery process in the markets we cover,” said Gerald Bueshel, Platts director of global licensing.

Visit the CME website or view this link for a listing of CME’s new swap futures contracts based on Platts’ published price assessments.

With this announcement, the total number of CME contracts settled on physical market price assessments published by Platts is about 370.  The first trading and clearing date for these contracts is April 26.

“These contracts will serve our international customers, who look to CME Group to launch innovative new products that help them mitigate risk in specialized energy markets,” said Joe Raia, CME group managing director of energy products and services in an April 15 press release announcing the launch.  “The ability to use the capital efficiencies of CME Group’s cross margining spread credits also adds financial savings that are beneficial to our customers.”  CME said the first-listed month will be the May 2010 contract.

Platts is a division of The McGraw-Hill Companies (MHP).  In addition to gasoline and fuel oil, Platts provides information on supply, demand and shipping across the full spectrum of energy commodities including liquefied natural gas, crude oil, petroleum-based products, coal, nuclear power, petrochemicals, electricity, carbon emissions, biofuels, iron ore and the steel and metals complex.

Methodology for Platts' petroleum-based price assessments processes can be found at this link: http://www.platts.com/MethodologyAndSpecifications.aspx?commodity=Oil.

For more information on petroleum, visit the Platts website at www.platts.com.

*Platts does not sponsor, endorse, promote or sell CME contracts.

About Platts: Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and commodities information.  With a century of business experience, Platts serves customers across more than 150 countries.  An independent provider, Platts serves the oil, natural gas, electricity, emissions, nuclear power, coal, petrochemical, shipping, and metals markets from 17 offices worldwide.  Platts' real-time news, pricing, analytical services and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com.

About The McGraw-Hill Companies: Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a global information and education company providing knowledge, insights and analysis in the financial, education and business information sectors through leading brands including Standard & Poor's, McGraw-Hill Education, Platts, and J.D. Power and Associates.  The Corporation has more than 280 offices in 40 countries. Sales in 2009 were $5.95 billion. Additional information is available at http://www.mcgraw-hill.com/.

SOURCE Platts