CME Group, the world's leading and most diverse derivatives marketplace, today announced the company was named 'International Exchange of the Year for Asia' by Futures & Options World (FOW) at the 3rd FOW Awards for Asia 2014. The awards ceremony held on 25th September 2014 in Singapore recognized CME Group's excellence in the launch of products and services for the Asian market in the past year.
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"We are honored to receive this award for the third year in a row since its inauguration," said Terry Duffy, CME Group Executive Chairman and President. "This is a clear endorsement of CME Group's leadership position within the Asian derivatives market place, and is recognition of the continual investment we have made in Asia to cater to the evolving needs of our clients."
"This award recognizes our commitment to continuously develop products and services offerings in response to the needs of our customers in the region. It also reflects the broadening of our alliances with key strategic partners as our efforts to expand outside of the US continue to take root," saidPhupinder Gill, CME Group Chief Executive Officer. "In the last financial quarter, volume outside of the US accounted for 24 percent of overall trading volume, a record level and testament of our commitment to serve the needs of our growing Asian customer base."
The FOW Awards for Asia is held annually to recognize the best of the Asian derivatives industry, where entries and nominations for the Awards are evaluated by FOW's judging panel.
In the past 12 months, CME Group introduced several new Asia-centric products, including the USD Malaysian crude palm oil calendar swap, the AUD-denominated wheat swaps, the Coal (API 5) fob Newcastle (Argus/McCloskey) futures contract, as well as options on the Yen-denominated Nikkei Stock Average futures. CME Group also signed a MOU with Shanghai Clearing House, a market data agreement with China Financial Futures Exchange Inc., and added China Merchants Futures and UOBBF Clearing Limited to its expanding base of Asian clearing members.
