CME Group wins 'Exchange of the Year Asia'

SINGAPORE September 24 2014 12:35 PM

SINGAPORE (Scrap Register): CME Group was named 'Exchange of the Year Asia' at the 7th Energy Risk Awards Asia 2014. The awards ceremony held on 23rd September 2014 in Singapore recognized CME Group's significant achievements in the Asian energy derivatives space.

Over the past year, CME Group has grown its coal derivatives market and with the launch of the Coal (API 5) fob Newcastle (Argus/McCloskey) futures contract in June 2013, CME Group now has three coal futures contracts covering the Asia market, including the Coal (API 8) cfr South China (Argus McCloskey), and the Indonesia Coal (McCloskey sub-bituminous) futures contracts.

In addition, CME Group has also launched various other energy derivatives to cater to the needs of its Asian customer base, including futures contracts on Middle East fuel oil, gasoil and naphtha, as well as the Mini Dubai Crude Oil (Platts) and the Japan C&F Naphtha Dubai (Platts) Crack Spread futures contracts.

"We are honored to receive this award from Energy Risk," said Terry Duffy, CME Group Executive Chairman and President. "This is testament to CME Group's leadership position within the energy derivatives market place, and we look forward to further enhancing and expanding our suite of products as more Asian customers access our markets."

“This award is an endorsement of the success we have in terms of constantly delivering client-centric energy products to our Asian clients. Through a series of trading initiatives based on market development and client feedback, we have significantly grown our market share of the Brent crude oil futures in the past year to over 10%. At the same time, CME Group has also led the way in listing Asian energy derivatives and continues to look at the development of potential new benchmarks,” said Phupinder Gill, CME Group Chief Executive.