CBOT President and CEO Bernard W. Dan said, “The Exchange has worked extensively with the ethanol industry to develop this new contract, and this collaborative effort with producers and refiners was critical to designing an effective vehicle for both price discovery and the management of price volatility within the domestic ethanol market. In addition, we welcome Noble Americas’ commitment as a market maker and believe that Noble will enhance liquidity in CBOT ethanol futures.”
Noble Americas Vice President of Clean and Specialty Products William Covey said, “We are pleased to be designated a market maker by the CBOT for its Ethanol futures contract, as Noble Americas continues to seek new opportunities to meet the needs of the ethanol industry. Our firm looks forward to working with the Exchange on providing a transparent, central marketplace to the ethanol community.”
The March 23 launch date of CBOT Ethanol futures replaces the previously announced April 8 introduction of the contract. CBOT Ethanol futures will be physically delivered, employing the most advanced electronic delivery system within the industry.
Noble Americas Corp. is a wholly owned U.S. subsidiary of the Noble Group, a global supply chain manager of industrial raw materials and transport resources, which links producers and consumers by integrating sourcing, marketing, processing, transportation and finance. The company trades in grains and other agricultural products, fossil fuels, metals and clean oil products, such as ethanol. Noble Americas has extensive relationships with the nation’s leading gasoline refiners and blenders, and in 2004, it was one of the nation’s largest non-producer suppliers of gasoline components.
For more information on CBOT Ethanol futures, please visit the Exchange’s Website at www.cbot.com/ethanol. Further information on the Noble Group is available at www.thisisnoble.com.
