CME Group adds Aluminium European Premium Duty-Paid
International derivatives marketplace CME Group Inc (NASDAQ:CME) today announces the addition of Aluminium European Premium Duty-Paid (Metal Bulletin) futures contracts, in a move to further boost its base metals offering.
The new contracts are set to begin trading on March 21, 2016. They will be available for trading on CME Globex, for submission for clearing through CME ClearPort, and will be listed with and subject to the rules and regulations of COMEX.
Aluminium European Premium Duty-Paid (Metal Bulletin) futures will be 25 metric tons in size and will be financially settled against the Metal Bulletin assessment of aluminium spot price transactions in Europe.
The new product joins an existing lineup, which includes Aluminium Japan Premium (Platts) futures, Aluminium European Premium Duty-Unpaid (Metal Bulletin) futures, Aluminum MW U.S. Transaction Premium Platts futures and physically delivered Aluminum futures.
Young-Jin Chang, CME Group Executive Director of Metals Products, says,
“This new contract complements our existing regional aluminium premium futures contracts, and will enable a broader and more diverse set of our European customers to hedge their exposure to the aluminium premium. Our new Aluminium European Premium Duty-Paid contract responds to commercial customer demands for a solution to manage their premium price risk and builds on the successful launch of our Aluminium European Premium Duty-Unpaid European premium futures last year.”