CHICAGO (Commodity Online): CME Group, the world's leading and most diverse derivatives marketplace, to expand its centrally cleared, over-the-counter (OTC) agricultural swap offering through the introduction of eight new grain and oilseed swaps.
The new swaps will be available for clearing on February 13. Among the offering are five new bullet swaps and three additional calendar swaps, which are subject to the rules and regulations of CBOT.
"These new agricultural swaps will provide customers with even greater flexibility to manage price risk while accessing the world's deepest and most liquid grain and oilseed markets," said Tim Andriesen, Managing Director, Agricultural Commodities and Alternative Investments, CME Group.
Calendar swaps will be offered on Soybean Meal, Soybean Oil and the Soybean Board Crush to complement the exchange's current lineup of cleared OTC calendar swaps. While, Bullet swaps on Corn, Wheat, Soybeans, Soybean Meal and Soybean Oil represent the first bullet swap offering on agricultural futures at CME Group.
The OTC agricultural swaps are the first to be introduced by any exchange following a new CFTC agricultural swap rule that took effect on December 31, 2011, allowing certification of agricultural swap products under new regulations beginning in January 2012.
