cme group inc (CME) Key Developments
CME Group Inc. Launches New Physically Delivered Gold Kilo Futures Contracts
Jan 27 15
CME Group Inc. launched physically delivered Gold Kilo Futures contracts, pending all regulatory review periods. This new contract, which will be listed on COMEX, builds on CME Group's existing suite of precious metals products, and will have contract listings similar to the familiar structure of the benchmark 100 troy ounce Gold Futures contract (GC) listed on COMEX. It will be tied directly to 9999 gold prices in Hong Kong and be physically-delivered in Hong Kong to provide access to round-the-clock price discovery for the Asian gold market. CME Group's new Gold Kilo Futures contract will be physically delivered in COMEX-approved Hong Kong vaults. The contract will enable market participants to benefit from the reliability and proven integrity of the COMEX delivery process when they make and take delivery of 9999 gold kilo bars in Hong Kong. The contracts will be available for trading electronically via CME Globex, as well as submission for clearing through CME ClearPort and will be listed by and subject to the rules of COMEX.
CME Group Announces Launch of a Suite of European Natural Gas Contracts on CME Europe
Dec 18 14
CME Group announced the launch of the first suite of physically and financially settled European natural gas cleared futures contracts. The contracts will be listed on CME Group's European exchange, CME Europe for first trade date on January 19, 2015 and are authorized and approved by the United Kingdom (UK) Financial Conduct Authority. The new suite of physically and financially settled European natural gas contracts, are the first to be introduced on CME Europe since its launch in April with foreign exchange and biofuel contracts. There will be four physically delivered and eight financially settled exchange-traded natural gas futures on CME Europe. The physically delivered futures contracts are in the two major natural gas hubs in Europe: the UK National Balancing Point (NBP) and the Dutch Title Transfer Facility (TTF). The financially settled futures will be based on the ICIS Heren Natural Gas Indices for UK, Dutch, Austrian and German natural gas hubs. The natural gas contracts will be available on Clearport and Globex and distributed via the Trayport platform alongside other exchange products. Natural gas is a key component in Europe's energy supply chain and is widely used across a number of different industrial sectors. The method of delivery includes pipelines, liquefied natural gas vessels and regasification terminals. The latter two are likely to play an increasingly important role for in the market as more infrastructure is built to cope with expectations of rising supply. These contracts will be based on the most liquid of the underlying European Natural Gas markets. These contracts will be subject to the rules of CME Europe and cleared via CME Clearing Europe, CME Group's European clearing house.
CME Group Inc. Announces Executive Changes
Dec 11 14
On August 27, 2014, CME Group Inc. announced that James E. Parisi had informed the company of his intention to retire from the position of Chief Financial Officer and
that upon Mr. Parisis retirement, John W. Pietrowicz would assume the role of Chief Financial Officer. The company has agreed to Mr. Parisis retirement from the role of Chief Financial Officer and the transition of such responsibilities to Mr. Pietrowicz, effective as of the close of business on December 10, 2014. In accordance with his agreement, Mr. Parisi will remain employed with the Company until December 31, 2014. Mr. Pietrowicz previously served as the company's Senior Managing Director, Business Development and Corporate Finance since 2010. He joined the organization in 2003 and since then has held various positions of increasing responsibility, including as Managing Director and Deputy Chief Financial Officer from 2009 to 2010 and Managing Director, Corporate Finance and Treasury from 2006 to 2009. As Chief Financial Officer, Mr. Pietrowicz will participate in the company's compensation program upon terms commensurate with other executive officers of the company at the level of Senior Managing Director.
Cme Group Inc. Declares Annual Variable Dividend, Payable on January 13, 2015
Dec 11 14
CME Group Inc. declared its annual variable dividend, amounting to $2.00 per share. The dividend is payable January 13, 2015, to shareholders of record on December 29, 2014.
CME Group Inc. Launches New Iron Ore Futures Contract
Nov 24 14
CME Group Inc. announced the launch of trading and clearing services for the Iron Ore 58% Fe, Low Alumina, CFR China (TSI) Futures contract. Pending CFTC review, this new cash-settled futures contract will be listed on CME Globex and the NYMEX trading floor, and will be available for clearing on CME ClearPort for trade date 8 December 2014. This contract will be listed with and subject to the rules and regulations of NYMEX. The commodity code for the Iron Ore 58% Fe, Low Alumina, CFR China (TSI) Futures contract will be TIC. It will be listed for the current calendar year and the next two calendar years, with January 2015 as the first listed contract month. The contract will be 500 dry metric tons in size, with a minimum price fluctuation of $0.01 per tick.