CME Group Announces First Trades of New Crude Palm Oil Calendar futures

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Aug 16, 2016, 11:00 ET

SINGAPORE, Aug. 16, 2016 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced the first trades of the USD Malaysian Crude Palm Oil Calendar futures (CPO) that were launched on 11 July 2016. The trade that took place on 12 August 2016 was between Louis Dreyfus Commodities and a major Indonesian palm oil plantation house, and was brokered by Ginga Global Markets Pte Ltd. A total of 120 futures contracts, equaling 3,000 metric tons, were traded.

"We are excited to see industry interest and support for our USD Malaysian Crude Palm Oil Calendar futures contracts," said Christopher Fix, Managing Director and Head of Asia Pacific, CME Group. "We are committed to broadening our suite of offerings within the palm derivatives complex, and are pleased to be able to better address the industry's hedging and trading needs."

"We are very happy to have brokered the first Crude Palm Oil Calendar futures contract and are very optimistic with the growth potential in this new contract which we believe is an excellent risk management product and for anyone who wants exposure to the global palm oil market," said Laren Tan, Chief Operating Officer, Ginga Global Markets Pte Ltd. "CME Group has been constantly engaging market participants on their risk management needs, and this new contract has provided additional hedging capability to the rapidly growing palm market."

This Malaysian Crude Palm Oil Calendar futures contract references Bursa Malaysia Derivatives' Crude Palm Oil futures contract prices, and are 25 metric tons in size. The contract is available for trading on CME Globex, for submission for clearing through CME ClearPort, and listed with and subject to the rules and regulations of CME.

For more information about CME Group's new palm risk management products, visit cmegroup.com/education/palm-oil-calendar-futures-and-options.html.

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 products and metals. Around the world, CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its exchanges based in Chicago, New York and London. 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 and over-the-counter derivatives. CME Group's products and services ensure that businesses around the world can effectively manage risk and achieve growth.

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