CME Group, Rim Intelligence partner on energy derivatives clearing


International derivatives marketplace CME Group Inc (NASDAQ:CME) and Japan’s provider of energy price and information services Rim Intelligence on Wednesday signed en exclusive license agreement.

The deal will allow CME Group to develop and clear energy derivatives based on the Rim DES Japan LNG Assessment, available for submission to CME Clearing via the Japan OTC Exchange, and through OTC brokers

“CME Group is pleased to partner with a market-leading price reporting agency like Rim Intelligence, as we continue to grow our energy business across the globe,” said Terry Duffy, Executive Chairman and President of CME Group.

“We look forward to providing clearing services which will mitigate counterparty risk for users and traders of various OTC energy products developed and based on the Rim DES Japan LNG assessment.”

rim_intelligence“This is an exciting development for the LNG markets in Asia, and in Japan,” said Christopher Fix, Managing Director and Head of Asia-Pacific of CME Group. “Through this partnership, we hope to see greater involvement by market participants in managing their LNG price risks, and create a more vibrant and liquid energy market, as deregulation of the industry continues to pick up pace.”

“Japan OTC Exchange welcomes this development, as providing access to clearing services has been our top priority since we launched the LNG markets in 2014,” said Takamichi Hamada, President & CEO of Tokyo Commodity Exchange, and Member of Management Committee of Japan OTC Exchange. “Thanks to the clearing service provided by CME Group, the safety of LNG transactions on Japan OTC Exchange will be greatly enhanced and will allow our members to trade with a high level of comfort, which I believe would lead to the further development of the LNG markets in Asia.”

To view the official announcement, click here.

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CME Group, Rim Intelligence partner on energy derivatives clearing

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