CME Group Announces the Launch of Clearing Services for Physical Natural Gas Liquids
July 01 2009 - 2:21PM
PR Newswire (US)
CHICAGO, July 1 /PRNewswire-FirstCall/ -- CME Group, the world's
largest and most diverse derivatives exchange, today announced the
launch of clearing services for six new physically delivered
natural gas liquids futures contracts. Clearing services will be
available through CME ClearPort(R), a set of flexible clearing
services open to over-the-counter (OTC) market participants to
substantially mitigate counterparty risk and provide capital
efficiencies across asset classes, beginning on July 19 for trade
date July 20. These contracts are listed for trading by NYMEX
through CME ClearPort and are subject to NYMEX rules and
regulations. The new futures contracts and their commodity codes
include: Mont Belvieu physical LDH propane (OPIS) (3N) with
delivery at the LDH facility in Mont Belvieu, Texas; Mont Belvieu
physical non-LDH propane (OPIS) (3P); Mont Belvieu physical normal
butane (OPIS) (3M); Mont Belvieu physical natural gasoline (OPIS)
(3R); Mont Belvieu physical iso-butane (OPIS) (3L); and Mont
Belvieu physical ethane (OPIS) (3Q). The Non-LDH propane contract
as well as the other four physical NGL contracts will be delivered
at the Enterprise facility in Mont Belvieu, Texas. Clearing
services for these NGL contracts are designed to help domestic
producers, end-users, and retailers meet their hedging needs. The
first listed month for these contracts will be August 2009. The
physical LDH propane and non-LDH propane futures contracts will be
listed for 48 consecutive months. The other contracts will be
listed for 36 consecutive months. For more information, please
visit http://www.cmegroup.com/clearport. CME Group
(http://www.cmegroup.com/) is the world's largest and most diverse
derivatives exchange. Building on the heritage of CME, CBOT and
NYMEX, CME Group serves the risk management needs of customers
around the globe. As an international marketplace, CME Group brings
buyers and sellers together on the CME Globex electronic trading
platform and on trading floors in Chicago and New York. By acting
as the buyer to every seller and the seller to every buyer, CME
Clearing virtually eliminates counterparty credit risk. CME
Clearing also offers financial safeguards to help mitigate systemic
risk, providing the security and confidence market participants
need to operate, invest and grow. CME Group offers the widest range
of benchmark products available across all major asset classes,
including futures and options based on interest rates, equity
indexes, foreign exchange, energy, agricultural commodities,
metals, and alternative investment products such as weather and
real estate. CME Group is listed on NASDAQ under the symbol "CME."
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 and its products can be found
at http://www.cmegroup.com/. CME-G DATASOURCE: CME Group CONTACT:
Media, Mary Haffenberg, +1-312-930-3435, or Michael Shore,
+1-312-930-2363, , or Investors, John Peschier, +1-312-930-8491,
all of CME Group Web Site: http://www.cme.com/
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