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CME Group, the world's largest and most diverse derivatives exchange, today announced a new Latin American Commercial Incentive Program that will enable Latin American-based commercial agricultural hedgers to receive discounted trading fees for electronic trading of CME and CBOT Agricultural products, scheduled to begin August 1.
Firms based in Latin America with a primary business that includes growing, trading, processing or merchandising agricultural commodities can qualify to receive the discounted fees for proprietary trading.
"The Latin American incentive program, combined with our South American pricing program for banks and our order routing agreement with BM&FBOVESPA, is part of our long-term strategy to provide Latin American-based customers with leading risk management products," said Rick Redding, CME Group Managing Director of Products and Services. "We provide customers located in Latin America with a transparent marketplace and central counterparty clearing to diminish counterparty risk. These benefits apply to the trading of our benchmark products, such as corn, wheat, soybeans, soymeal, soyoil, rice, oats, live cattle, lean hogs, feeder cattle, frozen pork bellies, milk, dry whey, butter and lumber products."
The Latin American Commercial fee program, which will be offered to firms in 31 countries and includes minimum quarterly volume requirements, runs through December 31, 2010.
