MEDIA RELEASE PR38904
CME Group Announces Launch of International Skimmed Milk Powder Derivative Contracts
CHICAGO, Mar. 26 /PRNewswire-AsiaNet/ --
CME Group, the world's leading and most diverse derivatives marketplace,
today announced the launch of International Skimmed Milk Powder futures and
options on futures contracts beginning May 9 for trade date May 10, 2010. It
is the first exchange-listed dairy contract with physical delivery points
located around the world. These contracts are listed with, and subject to,
the rules and regulations of CME.
Skimmed milk in powder form has become a popular source of protein
because it does not require refrigeration, making it easier to transport and
store than fluid milk or dairy products containing fat. Delivery points for
the electronically traded product include Auckland (New Zealand), Los
Angeles, CA (U.S.), Melbourne (Australia), Newark, NJ (U.S.), Rotterdam
(Netherlands) and Seattle, WA (U.S.).
"Our contract specifications for International Skimmed Milk Powder
listings include global delivery points and requirements to meet Codex
standards that reflect the needs of international customers," said Tim
Andriesen, CME Group Managing Director of Commodity Products and Services.
"These new products will provide an important tool for hedging price risk
inherent in the global dairy market."
International Skimmed Milk Powder contracts will be listed monthly with
each contract representing the equivalent of 20 metric tons and a tick size
of $10. Trading hours are Sunday through Friday, 5:00 p.m. to 1:55 p.m.
Chicago time with daily trading halts from 4:00 p.m. to 5:00 p.m. For more
As the world's leading and most diverse derivatives marketplace, CME
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(R) electronic trading platform and its trading facilities in
New York and Chicago. CME Group also operates CME Clearing, one of the
largest central counterparty clearing services in the world, which provides
clearing and settlement services for exchange-traded contracts, as well as
for over-the-counter derivatives transactions through CME ClearPort(R). These
products and services ensure that businesses everywhere can substantially
mitigate counterparty credit risk in both listed and over-the-counter
derivatives markets.
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 (Nasdaq: CME) and its products can be
CME-G
SOURCE: CME Group
CONTACT:
Media,
Mary Haffenberg,
+1-312-930-3435,
or Allan Schoenberg,
+1-312-930-8189,
or Investors,
John Peschier,
+1-312-930-8491,
all of CME Group,
news@cmegroup.com
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