CME sets up clearing services for fertilizer swap futures
2011-06-23 17:21:59
CME Group has launched trading and clearing services for four new cash-settled fertilizer swap futures for trade date 11 July. Trading for the urea, urea ammonium nitrate (UAN) and di-ammonium phosphate (DAP) based fertilizers will be available on the New York trading floor with clearing services available through CME ClearPort.
Tim Andriesen, Managing Director, Agricultural Commodities and Alternative Investments, CME Group said, "The fertilizer products we're introducing allow market participants to manage fertilizer prices, one of the key and most volatile price inputs into grain production, further allowing a focus on margin management."
Four new CME Group fertilizer swap futures will be listed on CME ClearPort and the NYMEX trading floor and they are the Urea (Granular) FOB NOLA Swap Future; UAN FOB US Gulf Coast Swap Future; DAP FOB Tampa Swap Future and the DAP FOB NOLA Swap Future.