This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

BM&FBOVESPA To Start Trading Crude Oil Derivatives Contract On June 21

SAO PAULO, March 20, 2013 /PRNewswire/ -- BM&FBOVESPA will launch a new cash-settled mini Crude Oil derivatives contract on June 21, based on the settlement price of CME Group's NYMEX Light Sweet Crude Oil (WTI) futures contract.

The new contract will be authorized for trading as of the August 2013 contract month, from 9:00 a.m. to 4:00 p.m. under the WTI ticker. The size of each futures contract is equivalent to 10% of the original contract, representing 100 barrels of crude oil and quoted in United States Dollars. The settlement prices of the cash-settled mini Crude Oil futures contract will be calculated from the settlement prices that have their methodology available at http://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.html.

The launch is part of an agreement with CME Group to promote the cross-listing of futures contracts designed to meet the needs of local market participants. The new contract will allow local lifters, refiners, fuel distributors, importers, exporters, suppliers of oil-based products and other participants to execute hedging strategies that mitigate against price risk in the energy markets.

New derivatives contracts to have market makersA Market Maker program will be launched with this contract to promote liquidity from the start of trading. Up to three financial institutions will be selected to operate as market maker (including foreign institutions) via a competitive bidding process. The interested institutions must send their proposals to BM&FBOVESPA by April 19. The winners will be announced as of June 07.

Energy commodities portfolioThe BM&FBOVESPA energy commodities portfolio has become even more robust with this launch. The range of products in this segment now covers three commodities: cash-settled hydrous ethanol, anhydrous fuel ethanol with physical delivery and cash-settled crude oil.



Stock quotes in this article: CME 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs