CHICAGO, April 26,
2022 /PRNewswire/ -- CME Group, the world's
leading derivatives marketplace, today announced that it will
launch an option contract on its physically-delivered Aluminum
futures on May 23, pending regulatory
review.
"Our new option contract is the latest example of CME Group's
decade-long track record of helping the aluminum community to
manage risk as their needs evolve," said Jin Chang, Global Head of Metals at CME Group.
"Clients are increasingly turning to our Aluminum markets, with a
record 4,888 Aluminum futures contracts traded on April 19 and average daily volume in April
currently around 1,300 contracts, up over 100% from last year. We
look forward to continuing to work with our clients and the
industry to provide enhanced solutions across this important global
market."
"We welcome the introduction of this new Aluminum Option
contract and CME Group's efforts to enhance risk management
capabilities in base metals," said Rob
Sorrentino, President at Eckhardt Trading. "The new contract
provides even more flexibility to manage adverse price movements
and transparent price discovery, which benefits the entire base
metals industry at this critical time."
"We applaud CME Group's continued expansion in base metals. With
ongoing uncertainty in global metals markets, this new contract
will allow us to offer liquidity to those looking to manage price
risk and provide another important hedging tool to the broader
aluminum community," said Gareth Upe, Managing Director at UPE
Trading. "We look forward to supporting CME Group's new Aluminum
Option contract."
The new Aluminum Option contract will be listed by and subject
to the rules of COMEX. For more information, please visit
here.
About CME Group
As the world's leading derivatives
marketplace, CME Group (www.cmegroup.com) enables clients to trade
futures, options, cash and OTC markets, optimize portfolios, and
analyze data – empowering market participants worldwide to
efficiently manage risk and capture opportunities. CME Group
exchanges offer the widest range of global benchmark products
across all major asset classes based on interest
rates, equity indexes, foreign
exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex® platform, fixed
income trading via BrokerTec and foreign exchange trading on the
EBS platform. In addition, it operates one of the world's
leading central counterparty clearing providers, CME
Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile
Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board
of Trade of the City of Chicago,
Inc. NYMEX, New York Mercantile Exchange and ClearPort are
trademarks of New York Mercantile Exchange, Inc. COMEX is a
trademark of Commodity Exchange, Inc. BrokerTec and EBS are
trademarks of BrokerTec Europe LTD and EBS Group LTD,
respectively. Dow Jones, Dow Jones Industrial Average, S&P
500 and S&P are service and/or trademarks of Dow Jones
Trademark Holdings LLC, Standard & Poor's Financial Services
LLC and S&P/Dow Jones Indices LLC, as the case may be, and have
been licensed for use by Chicago Mercantile Exchange Inc. All
other trademarks are the property of their respective
owners.
CME-G
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SOURCE CME Group