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CME Group, the world's largest and most diverse derivatives marketplace, today announced the launch of trading and clearing services for three new financially settled five decimals natural gas liquids swap futures contracts. 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 16 for trade date August 17. These contracts are listed by NYMEX, and are subject to NYMEX rules and regulations.
These contracts offer our customers the ability to price at an eighth of a cent, or five decimal places, as they do in the physical and over the counter markets.
The contracts and commodity codes for the new swap futures will be: Mont Belvieu LDH propane five decimals (OPIS) (B0); Mont Belvieu ethane five decimals (OPIS) (C0); and Mont Belvieu normal butane five decimals (OPIS) (D0).
The first listed month will be the September 2009 contract. The propane contract will be listed for up to 48 consecutive months and the other contracts will be listed for 36 consecutive months.
For more information please visit www.cmegroup.com/clearport.
