In a ceremonial opening procedure Wednesday almost 17 million contracts worth an estimated $424 million were traded on a new non-traditional futures product offered by the Chicago Mercantile Exchange and Merrill Lynch.
PIMCO CommodityRealReturn TRAKRS product marks the eleventh in a series of non-traditional futures products developed jointly between the CME and Merrill Lynch.
PIMCO CRR TRAKRS futures are contracts designed to offer investors a way to gain exposure to the Dow Jones-AIG Commodity Index, while at the same time combining an index of qualified separate accounts that are actively managed by Pacific Investment Management Company.