MELBOURNE, Australia, July 28, 2013 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced the launch of two new centrally cleared, over-the-counter (OTC) wheat swaps to be denominated in Australian dollars (AUD). Pending CFTC review, both the AUD Chicago Soft Red Winter (SRW) Wheat Swap and the AUD KC Hard Red Winter (HRW) Wheat Swap will be available for clearing on CME ClearPort on Monday, August 12, 2013. These contracts will be listed with and subject to the rules and regulations of the CBOT.
"Today, wheat market participants can manage their price risk through the use of our cleared, U.S. dollar-denominated OTC wheat swaps based on the deep, liquid CBOT and KCBT global wheat futures benchmarks," said Nelson Low, Executive Director, Commodity Products, CME Group. "These new Australian dollar-denominated swaps will enable producers, exporters and other Australian wheat market participants to manage their wheat market exposure in local currency instead of U.S. dollars. Additionally, commercial wheat participants will now have greater flexibility to manage counterparty risk through these cleared OTC swaps."
These new cleared AUD wheat swaps will be approximately one-fifth the contract size of the existing CBOT and KCBT Wheat swap products at 27 metric tons.
For more information on cleared OTC agricultural swaps products available for clearing through CME ClearPort visit www.cmegroup.com/agswaps.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 risk. 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. KCBOT, KCBT and Kansas City Board of Trade are trademarks of The Board of Trade of Kansas City, Missouri, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com. CME-G