EXCHANGE - CME to launch two alumina futures contracts

print Print this document.  Post this story to Facebook.
Tom Jennemanntom.jennemann@fastmarkets.comSenior North American Correspondent973-204-3383

Winter Park, Florida 22/08/2016 - CME Group will expand its base metals portfolio with the introduction of Alumina FOB Australia (Metal Bulletin) futures and Alumina FOB Australia (S&P Global Platts) futures, the exchange said on Monday.

Both contracts will begin trading on September 26, pending a regulatory review period. The Comex contracts will be available for trade on CME Globex and can be cleared through CME ClearPort.

Alumina FOB Australia (Metal Bulletin) futures will be 100 tonnes and financially settled each month against the weekly price index published for Alumina FOB Australia by Metal Bulletin.

Alumina FOB Australia (S&P Global Platts) futures will also be 100 tonnes and financially settled each month against the daily price index published for Alumina FOB Australia by S&P Global Platts.

CME Group's existing suite of aluminum risk management tools includes: Aluminum A380 Alloy (S&P Global Platts) futures, Aluminum MW US Transaction Premium Platts futures, Aluminium European Premium Duty-Paid (Metal Bulletin) futures, Aluminium European Premium Duty-Unpaid (Metal Bulletin) futures, Aluminum Japan Premium (Platts) futures and physically delivered Aluminum futures.

Volume for CME Group's metals products averaged 503,000 contracts per day in July 2016, up 32 percent from July 2015. Open interest in its suite of aluminum products surpassed 42,000 contracts in July 2016, according to exchange data.


(Editing by Mark Shaw)



Fastmarkets.com
mailto:press@fastmarkets.com
8 Bouverie Street, London, EC4Y 8AX, UK
+44 (0)845 241 9949