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CME Clearing Europe Expands its Metals Offering with Two Iron Ore Contracts
12/10/2012 - CME Clearing Europe has added two new over-the-counter iron ore contracts for clearing: Iron Ore 62% CFR China Calendar Swaps and Iron Ore 62% CFR China Average Price Options.
CME Clearing Europe, CME Group's European clearing house, announced that it has added two new over-the-counter (OTC) Iron Ore contracts for clearing: Iron Ore 62% CFR China Calendar Swaps and Iron Ore 62% CFR China Average Price Options beginning Monday, 10 December 2012 subject to regulatory approval.
This expansion of products is in line with CME Clearing Europe's commitment to helping customers manage their risk associated with China's construction industry. These new products build on CME Group's growing and expanding Virtual Steel Mill suite of products. In conjunction with clearing commodity contracts that support its clients' risk management needs, CME Clearing Europe offers margin efficiencies through inter-commodity spread credits where product pairs are price correlated, and offers margin offsets between its OTC WTI and Brent crude oil contracts, as well as its gasoil contracts.
