Last Updated : 12 September 2009 at 10:30 IST

CME Group launches 8 new petro futures contracts

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CHICAGO (Commodity Online): CME Group, the world's largest and most diverse derivatives marketplace, has announced the launch of trading and clearing services for eight new petroleum products and nine natural gas liquids futures contracts.

Trading will be available on the New York trading floor and clearing services will be available through CME ClearPort, a set of flexible clearing services open to over-the-counter (OTC) market participants to substantially mitigate counterparty risk and provide neutral settlement prices across asset classes. Trading and clearing are scheduled to begin on September 20 for trade date September 21. These contracts will be listed by and subject to the rules and regulations of NYMEX.

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The swap futures contracts and commodity codes will be:
Gulf Coast gasoline (OPIS) (4E)
Gulf Coast gasoline (OPIS) vs. RBOB gasoline spread (4F)
Gulf Coast jet (OPIS) (R9)
Gulf Coast jet (OPIS) vs. heating oil spread (W7)
Gulf Coast ULSD (OPIS) (5P)
Gulf Coast ULSD (OPIS) vs. heating oil spread (5Q)
Gulf Coast heating oil (OPIS) (7O)
Gulf Coast heating oil (OPIS) vs. heating oil spread (7W)
Mont Belvieu natural gasoline five decimals (OPIS) (7Q)
Mont Belvieu iso-butane five decimals (OPIS) (8I)
Conway propane five decimals (OPIS) (8K)
Conway natural gasoline (OPIS) (8L)
Conway normal butane (OPIS) (8M)
Mont Belvieu LDH propane (OPIS) BALMO (8O)
Mont Belvieu natural gasoline (OPIS) BALMO (R0)
Mont Belvieu ethane (OPIS) BALMO (8C)
Mont Belvieu normal butane (OPIS) BALMO (8J)

"Expanding our suite of NGL and petroleum products based on OPIS pricing will provide additional hedging opportunities for this marketplace," CME Group press release said.

The first listed month will be the October 2009 contract. The BALMO contracts will be listed for one month and the following month for 10 business days prior to the start of the contract month. All other contracts will be listed for 36 consecutive months.