CME Group Named ‘Exchange of the Year Asia’ by Energy Risk09.25.2014
SINGAPORE, Sept. 23, 2014 /PRNewswire/ — CME Group, the world’s leading and most diverse derivatives marketplace, today announced the company was named ‘Exchange of the Year Asia’ at the 7th Energy Risk Awards Asia 2014. The awards ceremony held on 23rd September 2014 in Singapore recognized CME Group’s significant achievements in the Asian energy derivatives space.
Over the past year, CME Group has grown its coal derivatives market and with the launch of the Coal (API 5) fob Newcastle (Argus/McCloskey) futures contract in June 2013, CME Group now has three coal futures contracts covering the Asia market, including the Coal (API 8) cfr South China (Argus McCloskey), and the Indonesia Coal (McCloskey sub-bituminous) futures contracts. In addition, CME Group has also launched various other energy derivatives to cater to the needs of its Asian customer base, including futures contracts on Middle East fuel oil, gasoil and naphtha, as well as the Mini Dubai Crude Oil (Platts) and the Japan C&F Naphtha Dubai (Platts) Crack Spread futures contracts.
“We are honored to receive this award from Energy Risk,” said Terry Duffy, CME Group Executive Chairman and President. “This is testament to CME Group’s leadership position within the energy derivatives market place, and we look forward to further enhancing and expanding our suite of products as more Asian customers access our markets.”
“This award is an endorsement of the success we have in terms of constantly delivering client-centric energy products to our Asian clients,” said Phupinder Gill, CME Group Chief Executive. “Through a series of trading initiatives based on market development and client feedback, we have significantly grown our market share of the Brent crude oil futures in the past year to over 10%. At the same time, CME Group has also led the way in listing Asian energy derivatives and continues to look at the development of potential new benchmarks.”
The Energy Risk Awards Asia is held annually to showcase excellence in commodity and energy markets across the region, where entries for the Awards are judged by Energy Risk’s editorial team, with the assistance of external industry experts. CME Group last won this award category in 2012.
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 and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the world’s leading central counterparty clearing providers, which offers 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