CME Clearing Europe Expands its OTC Energy Offering with Two New European
Natural Gas Contracts
LONDON, Jan. 25, 2013
LONDON, Jan. 25, 2013 /PRNewswire/ --CME Clearing Europe, CME Group's
European clearing house, today announced that it has added two new
over-the-counter (OTC) European natural gas forward contracts for clearing:
the United Kingdom (UK) National Balancing Point (NBP) Natural Gas Physically
Delivered Forward contract and the Netherlands (NL) Title Transfer Facility
(TTF) Natural Gas Physically Delivered Forward contract.
These contracts will be listed for clearing on CME ClearPort and will be
subject to the rules of CME Clearing Europe, CME Group's European clearing
house. These contracts will launch on 25 February 2013 subject to approval by
the Financial Services Authority (FSA).
"These new clearing contracts are aimed at the NBP and TTF European natural
gas markets which account for over two-thirds of all European gas trading.
Currently there is no relevant clearing option available to the market to
clear the physically settled forward contracts. We will offer within-month and
longer dated contracts," said Les Male, Senior Director, Energy Products at
CME Group. "Additionally, CME Clearing Europe contracts offer OTC
The addition of European natural gas to CME Group's suite of global energy
products offers our customers new trading strategies that enable them to
manage counterparty credit risk in the natural gas market. These products
offer online access to straight-through-processing, which means instant trade
confirmations and real-time clearing for the natural gas market.
CME Group offers the most extensive and liquid energy complex in the world
including: Light Sweet Crude Oil (WTI); Natural Gas (Henry Hub); Brent and
electricity contracts. Volumes on the exchange averaged 10.2 million contracts
per day in December 2012 of which 1.5 million were energy contracts. These
contracts will be available through CME ClearPort, Trayport, with physical
delivery will be handled by GMSL.
CME Clearing Europe
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 part of CME Group it nonetheless has full access
to the clearing and risk management expertise, systems and financial strength
of CME. More information can be found at www.cmeclearingeurope.com.
As the world's leading and most diverse derivatives marketplace, CME Group
(www.cmegroup.com) 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.CME Group brings buyers and sellers together through its CME
Globex^® electronic trading platform and its trading facilities in New York
and Chicago. CME Group also operates CME Clearing, one of the world's leading
central counterparty clearing providers, which offers clearing and settlement
services across asset classes for exchange-traded contracts and
over-the-counter derivatives transactions. These products and services ensure
that businesses everywhere can substantially mitigate counterparty credit
CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and
Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange
Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade
of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered trademarks of New York Mercantile Exchange, Inc.
COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the
property of their respective owners. Further information about CME Group
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"CME Clearing" and "CME Clearing Europe" are trading styles of Chicago
Mercantile Exchange Inc. and CME Clearing Europe Limited. CME Clearing Europe
Limited is a Recognised Clearing House ("RCH") recognised by the Financial
Services Authority in the United Kingdom.
Issued by CME Marketing Europe Limited. CME Marketing Europe Limited (FRN:
220523) is authorised and regulated by the Financial Services Authority for
the conduct of investment business in the United Kingdom.
SOURCE CME Group
Contact: Media: Fleur Howard, +44-20-3379-3831, or Damon Leavell,
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