CME Group Inc. launches clearing services for a new Mont Belvieu ethylene futures contract, scheduled to launch on 14 June for trade date 15 June.
Clearing services will be available through CME ClearPort. These contracts are listed for trading by NYMEX through CME ClearPort, and are subject to NYMEX rules and regulations.
The commodity code for the new contract will be 1F. It will be listed for up to 24 consecutive months beginning with the July 2009 contract and will be settled against the PetroChem Wire (PCW). The contract will allow an important part of the petrochemical market to hedge their risk with this new physically settled contract.
L.D.