CME Group reports first trades of new Aluminium futures
A follow-up to LeapRate’s earlier article about international derivatives marketplace CME Group Inc (NASDAQ:CME) adding Aluminium European Premium Duty-Paid (Metal Bulletin) futures contracts to its offering…
CME Group today announced that the first Aluminium European Premium Duty-Paid (Metal Bulletin) futures contracts were traded on Thursday, March 24, 2016. A total of 96 such futures contracts were traded that day, equalling 2,400 metric tons.
Young-Jin Chang, CME Group Executive Director of Metals Products, says,
“We are pleased to see early support for our Aluminium European Premium Duty-Paid (Metal Bulletin) contract. Our new Aluminium European Premium Duty-Paid contract responds to commercial customer demands for a solution to manage their premium price risk and complements our existing suite of aluminium risk management tools.”
The Aluminium European Premium Duty-Paid (Metal Bulletin) futures are 25 metric tons in size and are financially settled against the Metal Bulletin assessment of duty-paid aluminium spot price transactions in Europe. The contract is listed with and subject to the rules and regulations of COMEX.