CME Group Announces First Trades of New Physically Delivered Cocoa Futures Contract on CME Europe
LONDON, March 31, 2015 /PRNewswire/ — CME Group, the world’s leading and most diverse derivatives marketplace, announced the first trades of its new Physically Delivered Cocoa futures contract (contract code CCP), which were launched yesterday on its European exchange, CME Europe.
A total of 240 contracts traded through four delivery months out to March 2016, with most trades taking place in the new-crop December 2015 and March 2016 contracts.
“After 18 months of working with the industry, we believe we have launched cocoa contracts that address many of the unmet needs identified by commercial market participants,” said Jeffry Kuijpers, Executive Director, Agricultural Products, CME Group. “CME Group has a long tradition of offering and managing effective, physically delivered risk management tools for the commercial hedger. We are excited to see early industry support for our new euro-denominated cocoa futures contract on day one.”
These new Physically Delivered Cocoa futures are subject to the rules of CME Europe and cleared via CME Clearing Europe, CME Group’s European clearing house and are authorised and approved by the United Kingdom (UK) Financial Conduct Authority. For more information, visit www.cmegroup.com/cocoa.
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
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