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A follow-up to LeapRate’s earlier article about international derivatives marketplace CME Group Inc (NASDAQ:CME) adding Aluminium European Premium Duty-Paid (Metal Bulletin) futures contracts to its offering…
CME Group today announced that the first Aluminium European Premium Duty-Paid (Metal Bulletin) futures contracts were traded on Thursday, March 24, 2016. A total of 96 such futures contracts were traded that day, equalling 2,400 metric tons.
Young-Jin Chang, CME Group Executive Director of Metals Products, says,
“We are pleased to see early support for our Aluminium European Premium Duty-Paid (Metal Bulletin) contract. Our new Aluminium European Premium Duty-Paid contract responds to commercial customer demands for a solution to manage their premium price risk and complements our existing suite of aluminium risk management tools.”
The Aluminium European Premium Duty-Paid (Metal Bulletin) futures are 25 metric tons in size and are financially settled against the Metal Bulletin assessment of duty-paid aluminium spot price transactions in Europe. The contract is listed with and subject to the rules and regulations of COMEX.
You can view the full announcement from CME Group by clicking here.