CME Group Announces First Trades of Aluminum Japan Premium Futures

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Jan 11, 2016, 12:33 ET

CHICAGO, Jan. 11, 2016 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced the first Aluminum Japan Premium (Platts) futures contracts were traded on Friday, January 8, 2016. A total of 622 futures contracts were traded.

"We are pleased to see some early support for our Aluminum Japan Premium futures contract," said Young-Jin Chang, Senior Director of Metals Products, CME Group. "This new futures contract complements our U.S. and European aluminum premium futures contracts along with our North American physical aluminum contract, and we now have a global suite of aluminum products to better address our customers' risk management needs."

"We're excited to have traded this new Japanese premium futures contract," said Andre Marshall, Founder, Crunch Risk, LLC. "We've seen real industry appetite for all of these new aluminum premium contracts and we're optimistic that this latest futures contract can follow the success of the Midwest and European contracts as participants become more familiar with using them to manage price risk in their business."

The Aluminum Japan Premium (Platts) futures contract is 25 metric tonnes in size and is cash-settled referencing the Platts CIF Japan Spot Premium for Aluminum which is published daily in real-time service Platts Metals Alert and in Platts Metals Daily. The contract is listed with and subject to the rules and regulations of COMEX.

For more information on CME Group's metals products, please visit www.cmegroup.com/metals.

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.

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SOURCE CME Group