CME Group, today announced that it will launch European style options on the European gasoil bullet swaps futures contract and average price options on the European gasoil calendar swaps futures contract, on ClearPort(R) and the New York energy trading floor, beginning November 2 for trade date November 3.
The European style gasoil options contract (commodity code: F8) will be listed for 36 consecutive months, beginning with the November 2008 contract. The bullet swap contract expires one day before the gasoil futures contract.
The average price gasoil options contract (commodity code: F7) will be listed for the balance of the current year, plus each calendar month for the following two years.
Both contracts will be 1,000 metric tons in size with a minimum price fluctuation of $0.01 per metric ton. There will be 20 strike prices in intervals of $5.00 per metric tons above and below the at-the-money strike price.
Showing posts with label swaps. Show all posts
Showing posts with label swaps. Show all posts
Tuesday, 28 October 2008
CME Group Announces Gas And Plastics Futures
CME Group, today announced that it will launch five new natural gas liquids swaps futures contracts and two plastics futures contracts on ClearPort(R), beginning November 2 for trade date November 3.
The natural gas liquids swaps contracts and their commodity codes are: Conway propane (OPIS) (W1); Mont Belvieu natural gasoline (OPIS) (W3); Mont Belvieu ethane (OPIS) (W8); Mont Belvieu isobutene (OPIS) (Y2); and Mont Belvieu normal butane (OPIS) (Z2). These contracts will be cash-settled using OPIS assessments. They will be listed for 36 consecutive months, beginning with the November 2008 contract, and will be 42,000 gallons in size.
The plastics futures contracts and their commodity codes are: polypropylene (P1) and polyethylene (P6). The contracts will be listed for 24 consecutive months, beginning with the January 2009 contract, and will be 47,000 pounds in size. They will feature physical delivery in Houston.
For more information, please visit http://www.nymex.com/.
The natural gas liquids swaps contracts and their commodity codes are: Conway propane (OPIS) (W1); Mont Belvieu natural gasoline (OPIS) (W3); Mont Belvieu ethane (OPIS) (W8); Mont Belvieu isobutene (OPIS) (Y2); and Mont Belvieu normal butane (OPIS) (Z2). These contracts will be cash-settled using OPIS assessments. They will be listed for 36 consecutive months, beginning with the November 2008 contract, and will be 42,000 gallons in size.
The plastics futures contracts and their commodity codes are: polypropylene (P1) and polyethylene (P6). The contracts will be listed for 24 consecutive months, beginning with the January 2009 contract, and will be 47,000 pounds in size. They will feature physical delivery in Houston.
For more information, please visit http://www.nymex.com/.
Tuesday, 16 September 2008
GFI BasisMatch Currency Trading Platform
GFI Group Inc. ('GFIG' on NASDAQ) has launched BasisMatch(TM) - the first electronic trading platform for cross-currency basis swaps for the inter-dealer market. This extends GFI's hybrid broking model combining electronic and broker-assisted trading.
BasisMatch covers the G10 currencies against three-month US Dollar LIBOR, with plans to extend to similar instruments such as inter basis swaps.
"GFI continues to invest heavily in service-enhancing technology and BasisMatch is the latest example of this," said Paul Millward, GFI's BasisMatch(TM) and ForexMatch(R) product manager. "Cross-currency basis swaps are ready for hybrid broking, bringing electronic trading and automation of post-trade processes. GFI believes that BasisMatch will be widely adopted - just as CreditMatch and ForexMatch have been."
"The market requires efficient price dissemination and execution, transparency and integrity - and BasisMatch delivers," said Robert Bou-Simon, GFI's head of European interest rate derivatives. "BasisMatch is the result of extensive collaboration with our clients and GFI will continue to work with them to develop the platform further."
BasisMatch has been developed by Trayport, a wholly-owned subsidiary of GFI Group, Inc.
BasisMatch covers the G10 currencies against three-month US Dollar LIBOR, with plans to extend to similar instruments such as inter basis swaps.
"GFI continues to invest heavily in service-enhancing technology and BasisMatch is the latest example of this," said Paul Millward, GFI's BasisMatch(TM) and ForexMatch(R) product manager. "Cross-currency basis swaps are ready for hybrid broking, bringing electronic trading and automation of post-trade processes. GFI believes that BasisMatch will be widely adopted - just as CreditMatch and ForexMatch have been."
"The market requires efficient price dissemination and execution, transparency and integrity - and BasisMatch delivers," said Robert Bou-Simon, GFI's head of European interest rate derivatives. "BasisMatch is the result of extensive collaboration with our clients and GFI will continue to work with them to develop the platform further."
BasisMatch has been developed by Trayport, a wholly-owned subsidiary of GFI Group, Inc.
Thursday, 11 September 2008
CME Group Response to CFTC Swap Report
CME Group, issued the following statement in response to the Commodity Futures Trading Commission (CFTC) report on Swap Dealers and Index Traders:
"We commend the Commission and its staff's hard work on this report to ensure that exchange-traded and over-the-counter (OTC) derivatives markets in energy and agriculture products are functioning properly and to ensure that regulators have sufficient information to understand the activity of market participants across both commodity markets.
Throughout the recent turmoil in financial markets, the performance of CFTC regulated futures exchanges stands in welcome contrast to the OTC markets, and we believe the need for transparency, access to relevant trading data and the protections afforded by central counterparty clearing services has never been greater in financial and commodity derivatives markets. The Commission's recommendation to further promote policies that enhance and facilitate clearing of OTC derivatives is both welcome and fully supported by CME Group.
Furthermore, the Commission report supports the fact that fundamental factors of supply and demand are driving market prices. As the data from the Commission's report clearly shows, speculative trading positions by index traders in crude oil actually declined while prices in oil continued to rise. This data unequivocally demonstrates that market fundamentals have been influencing pricing trends.
CME Group intends to work with the Commission to ensure that the market regulation and customer protection mechanisms in U.S. futures markets are unmatched and we anticipate a greater need for transparency in the OTC markets. As a global industry leader, CME Group looks forward to participating in the ongoing analysis, discussion and debate concerning these matters. CME Group consistently works with our industry and market users to make sure our markets remain sound as part of the most efficient, transparent marketplace in the world."
"We commend the Commission and its staff's hard work on this report to ensure that exchange-traded and over-the-counter (OTC) derivatives markets in energy and agriculture products are functioning properly and to ensure that regulators have sufficient information to understand the activity of market participants across both commodity markets.
Throughout the recent turmoil in financial markets, the performance of CFTC regulated futures exchanges stands in welcome contrast to the OTC markets, and we believe the need for transparency, access to relevant trading data and the protections afforded by central counterparty clearing services has never been greater in financial and commodity derivatives markets. The Commission's recommendation to further promote policies that enhance and facilitate clearing of OTC derivatives is both welcome and fully supported by CME Group.
Furthermore, the Commission report supports the fact that fundamental factors of supply and demand are driving market prices. As the data from the Commission's report clearly shows, speculative trading positions by index traders in crude oil actually declined while prices in oil continued to rise. This data unequivocally demonstrates that market fundamentals have been influencing pricing trends.
CME Group intends to work with the Commission to ensure that the market regulation and customer protection mechanisms in U.S. futures markets are unmatched and we anticipate a greater need for transparency in the OTC markets. As a global industry leader, CME Group looks forward to participating in the ongoing analysis, discussion and debate concerning these matters. CME Group consistently works with our industry and market users to make sure our markets remain sound as part of the most efficient, transparent marketplace in the world."
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