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This expansion of products is in line with CME Clearing Europe's commitment to helping customers manage their risk associated with China's construction industry.

10 Dec 2012

LONDON (Commodity Online): CME Clearing Europe, CME Group's European clearing house has announced that it has added two new over-the-counter (OTC) iron ore contracts for clearing: iron ore 62% CFR China calendar swaps and iron ore 62% CFR China average price options beginning Monday, 10 December 2012 subject to regulatory approval.

This expansion of products is in line with CME Clearing Europe's commitment to helping customers manage their risk associated with China's construction industry.

These new products build on CME Group's growing and expanding Virtual Steel Mill suite of products. In conjunction with clearing commodity contracts that support its clients' risk management needs, CME Clearing Europe offers margin efficiencies through inter-commodity spread credits where product pairs are price correlated, and offers margin offsets between its OTC WTI and Brent crude oil contracts, as well as its gas oil contracts.

CME Clearing Europe is an FSA recognised, multi-asset class clearing house based in London that offers more than 200 OTC products for clearing. Its clearing model ensures stability and increases transparency in the OTC markets that it clears. CME Clearing Europe has its own dedicated staff, and its governance arrangements, capital and default resources are separate from those of CME Clearing in the US.

As the world's leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate.


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