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CME Group, the world's leading and most diverse derivatives marketplace, today announced record daily trading volume for its NYMEX WTI-Brent Crude Oil Spread Option contract (BV) yesterday, October 23 of 25,474 contracts, compared to 19,400 on July 1, 2013, the last record for this contract.
This comes at a time when the spread between NYMEX WTI and Brent has widened recently to approximately $11 a barrel. Yesterday was also a record day for the NYMEX WTI-Brent exchange-listed spread on the CME Globex electronic platform, which allows market participants to trade both sides of the spread electronically with no spread risk.
"With robust trading in our spread products, as well as the benchmark NYMEX WTI and Brent outright contracts, our crude oil and refined products complex is in a very strong position right now," said Gary Morsches, Managing Director of Global Energy at CME Group. "More and more, market participants are choosing CME Group as the preferred venue for trading the WTI-Brent spread and for managing risk in global energy markets."
These products are listed by and subject to the rules of NYMEX.
