CME Group, the world's largest and most diverse derivatives marketplace, today announced the launch of trading and clearing services for a new financially settled European gasoil (ICE) futures contract. Trading will be available on the CME Globex® electronic trading platform and clearing services will be available through CME ClearPort®, a set of flexible clearing services open to over-the-counter (OTC) market participants to substantially mitigate counterparty risk and provide neutral settlement prices across asset classes, beginning on August 22 for trade date August 24
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This contract will allow CME Group customers to now gain margin and capital efficiencies by hedging their risk to both European gasoil and Brent crude oil futures along with the company's benchmark WTI and heating oil futures contracts, all on a single exchange. Market participants continue to seek to lower their capital costs of hedging, and these contracts, along with CME Group's suite of Brent crude oil and gasoil options contracts, will help them achieve these efficiencies.
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