MB CONFERENCE - CME European premium contract records first trade

Tom Jennemanntom.jennemann@fastmarkets.comSenior North American Correspondent973-204-3383

Vancouver 23/09/2015 - The CME Group's European aluminium premium duty-unpaid futures contract traded for the first time today after launching on Monday, Fred Penha, CME director of metal products, said on Tuesday.

The trade was for 250 tonnes basis December 2015 at a price of $72.50 per tonne, Penha said during the Metal Bulletin International Aluminium Conference here.

The Comex contract is available for trading on CME Globex and for submission for clearing through CME ClearPort. It is 25 tonnes in size and is financially settled against the Metal Bulletin assessment of aluminium spot price transactions in Europe.

The contract complements CME's existing suite of aluminium risk management tools, including its aluminium Midwest US transaction premium futures and physically delivered aluminium futures.

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