Key Developments in International
Commodity Markets, May 2015
• CME Group will launch physically delivered
Zinc futures contracts on June 29, 2015, pending regulatory approval. Zinc
futures will be priced in U.S. dollars and will represent 25metric tonnes of
physical material.
• London Metal Exchange (LME) is close to
sealing deals with market makers to guarantee liquidity for its new steel re bar
and scrap futures. The contracts are scheduled for launch in October.
• Dalian Commodity Exchange, on April 30, said
that the results of its simulation testing for market making of the soya bean
meal options were‘successful’. This followed 28 days of simulated trading.
• China has more than tripled the number of
central government-owned firms permitted to trade overseas commodities
derivatives without approval from the state assets regulator.
• Shanghai Futures Exchange plans to allow
delivery of foreign-made nickel into its futures contracts as it seeks relief
from a shortage of domestic supply to the bourse. Six brands made by six
domestic companies are currently deliverable for the SHFE futures, which
started trading inMarch.
• CME is developing a European gold futures
contract to serve customers in London. The contract would mirror existing
futures traded on CME's New York COMEX platform.
• Tokyo Commodity Exchange Inc. announced the
elimination of position limits on Crude Oil Futures as of June 1, 2015. The
underlying product of the Crude Oil Futures was changed from the blend of Dubai
and Oman to Dubai, beginning June 2015 contract.
• Following the success of its Europe Cocoa
futures, the CME Group announced on May 15 the launch of options on its
physically delivered Cocoa futures contracts. These options will be listed on
CME Group's European exchange, CME Europe, for the first trade on June, 29, 2015.
• Hong Kong Exchange aims to make international
benchmark commodity futures available to traders in China while offering
mainland contracts to overseas traders.
• London Metal Exchange has launched a Chinese
version of the LME app, the exchange’s smartphone application providing metals
data and tools. The LME app provides free market prices on a next day delayed
basis for all LME-traded futures contracts.
• Dalian Commodity Exchange is opening up iron
ore futures to vigorously promote the internationalization of the futures
market based in Dalian
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