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CME Group, a derivatives exchange and technology company, has begun trading North American physically delivered aluminum futures contracts. The first 56 contracts, with four different expiry months, were traded last week by Macquarie Bank Ltd., the executing firm, CME reports.
“We’re pleased to see broad-based support for our new North American physical aluminum futures contract on day one,” Derek Sammann, CME Group’s senior managing director of FX, metals and options solutions, says in CME’s statement., which also cites industry participants and commercial end users of aluminum that have expressed support. Among the supporters cited are UC RUSA, MillerCoors and Reynolds Consumer Products.
North American physically delivered aluminum futures contracts are listed by and subject to the rules of COMEX, the Commodity Exchange, a division of the New York Mercantile Exchange, which also is owned and operated by the CME Group.
Need a Reprint?- Read More:
- CME Group
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