LONDON, Nov 13, 2017 (PR Newswire Europe via COMTEX) -- CME Group [http://www.cmegroup.com/
the world's leading and most diverse derivatives marketplace, today
announced the launch of Black Sea Wheat FOB (Platts) and Black Sea Corn
FOB (Platts) financially settled futures contracts, to begin trading on
December 18, 2017, pending all relevant regulatory review periods.
financially settled contracts will each be offered with two settlement
periods, providing greater customer flexibility, whereby 12 whole-month
contracts and 24 half-month futures contracts are available to trade.
The contracts will be denominated in U.S. dollars, 50 metric tonnes in
size, and available to trade as blocks subject to a minimum of 5
"The Black Sea region is a major player in the global
wheat and corn trade, and is expected to export over 50 million tonnes
of wheat and 25 million tonnes of corn this crop year alone," said Tim
Andriesen, Managing Director, Agricultural Products, CME Group. "The
launch of these two new futures contracts reflects customer demand for
cleared products which track the Black Sea cash markets and allow
customers to manage price exposure to the Black Sea wheat and corn
The Black Sea Wheat contract is based on the Platts
Russian Wheat 12.5% FOB Black Sea Deep Water daily price assessment and
the Black Sea Corn contract is based on the Platts Ukrainian Corn FOB
Black Sea daily price assessment.
"We are pleased that CME Group
recognizes the crucial role our independent Black Sea wheat and corn
price assessments have played over the past three years in creating
price transparency, which in turn provides opportunities for the
provision of risk management tools that bring greater efficiency to
global grains markets," said Ian Dudden, Global Content Director,
Agriculture at S&P Global Platts.
The two new futures
contracts will be available for trading on CME Globex or for submission
for clearing through CME ClearPort, and will be listed with and subject
to the rules and regulation of CBOT.
new Black Sea Wheat and Black Sea Corn futures contracts complement CME
Group's existing suite of global wheat benchmarks, including Australian
FOB wheat, Euro-denominated EU Wheat, Soft Red Winter Wheat, and Hard
Red Winter Wheat and futures contracts. For more information on CME
Group's new Black Sea futures contracts products, please visit: www.cmegroup.com/blacksea
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], equity indexes [http://www.cmegroup.com/trading/equity-index/
], foreign exchange [http://www.cmegroup.com/trading/fx/
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] and metals [http://www.cmegroup.com/trading/metals/
]. CME Group provides electronic trading globally on its CME Globex [http://www.cmegroup.com/globex/
platform. The company also offers clearing and settlement services
across asset classes for exchange-traded and over-the-counter
derivatives through CME Clearing [http://www.cmegroup.com/clearing.html
]. CME Group's products and services ensure that businesses around the world can effectively manage risk and achieve growth.
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