CME Group Announces First Trade of New European Power Contracts on CME Europe

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Jun 18, 2015, 03:00 ET

LONDON, June 18, 2015 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced the first trade of its new European Power Contracts. The contract traded for the first time on CME Europe, CME Group's European exchange, on Tuesday, 16 June 2015.

The trade comprising five megawatts (totalling 60 contracts) of German base load Calendar Year 2016 brokered by GFI Brokers Limited, involving Mercuria Energy Trading SA and Freepoint Commodities Europe LLP as the counterparts.

CME has a suite of eight European Power cash-settled futures for the leading electricity markets, with base load and peak load available for Germany, France, Italy, and Spain. They are available on CME ClearPort and CME Globex, and are distributed via the Trayport platform alongside other exchange products.

"CME Group's European power contracts aim to address a real need within European Power industry participants, to access cost-effective, relevant alternatives for trading power at lower fees," said Cees Vermaas, Chief Executive Officer, CME Europe. "With these contracts, our customers can now mitigate their counterparty risk and manage their European Power and Gas exposures on a single marketplace, giving them access to premier clearing and margining services, and competitive fees."

The new power contracts are subject to the rules of CME Europe and cleared via CME Clearing Europe, CME Group's European clearing house. Details of the new contracts are set out below and full contract specifications can be found at http://www.cmegroup.com/europe/products. A complete list of products, members and product specifications can be found at http://www.cmegroup.com/europe.

As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform, its trading facilities in New York and Chicago, and through its London-based CME Europe derivatives exchange. CME Group also operates one of the world's leading central counterparty clearing providers through CME Clearing and CME Clearing Europe, which offer clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.

CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are registered 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 (NASDAQ: CME) and its products can be found at www.cmegroup.com.

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SOURCE CME Group