LONDON, July 3, 2024
/PRNewswire/ -- Fastmarkets, a leading cross-commodity
price-reporting agency (PRA), is excited to announce that Bloomberg
Index Services Limited has introduced new indices utilizing
FASTMARKETS' commodity pricing. These indices track the performance
of lithium and cobalt futures contracts, referenced on Fastmarkets
global prices, and are listed on COMEX.
Fastmarkets' proprietary prices serve as the foundation for CME
Group futures contracts which are the underlying constituents
tracked by the Bloomberg indices. These indices are anticipated to
further position Fastmarkets' benchmark prices within financial
markets, enhancing liquidity and relevance to a new community of
financial service organizations.
Product highlights:
- New indices launched: Single commodity indices for
lithium (BCOMLM, BCOMLMT) and cobalt (BCOMCB, BCOMCBT)
- Data utilization: CME Group futures contracts are used
for the indices, with CME Group futures settling against
Fastmarkets' physical market assessments
- Market impact: The indices can be used by financial
investors with broad commodity market exposure to further diversify
returns. They can also be used to provide capital efficient
exposure to commodities linked to energy transition space
- Significance for Fastmarkets customers: Position
Fastmarkets prices in a new segment of the commodity ecosystem,
enhancing visibility and market value
Przemek Koralewski, global head
of market development at Fastmarkets, said: "This launch not only
elevates the visibility of our prices but also promotes the CME
Group lithium and cobalt futures contracts to the financial sector.
Inclusion in Bloomberg's commodity indices family brings additional
prestige and recognition to our benchmarks."
Jigna Gibb, Head of Commodities
& Crypto Index Product, Bloomberg Index Services
Limited, said: "Energy transition is a central pillar of climate
risk mitigation strategy and as a result of transitioning away from
fossil fuels, we can expect an increased demand for metals like
lithium and cobalt due to their role in renewable energy projects,
infrastructure and electric vehicles. Bloomberg partnered with
Fastmarkets for access to a reliable, extended data set on the
lithium and cobalt markets."
Find out how Fastmarkets can help you or
email media@fastmarkets.com to connect with our team.
ABOUT FASTMARKETS
Fastmarkets is an industry-leading PRA and information provider
for the agriculture, forest products, metals and energy transition
commodities' markets. Fastmarkets serves its customers with
commodity benchmark prices and assessments, forecasts, analytics,
insights, news and events. Its data is critical for customers
seeking to understand and predict dynamic, sometimes opaque
markets, enabling trading and risk management.
Fastmarkets is a global business with a history dating from 1865
and is built on trust and deep market expertise. It has more than
650 employees spread across several global locations including the
UK, US, China, Singapore, Brazil, Bulgaria, Belgium, Ukraine and Finland.
Fastmarkets is a privately held UK-registered company owned by
its shareholders and Astorg, a European private equity firm.
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SOURCE Fastmarkets