CME Group and Marex to Expand Client Access to CME Group Aluminum Futures
CME Group has partnered with Marex to enhance access to its Aluminum futures market. This collaboration marks an important step in addressing client demand for alternative markets. The Aluminum futures saw record trading volumes, including 7,929 contracts on October 5, 2022, and an average of around 3,000 contracts daily in October. Open interest also reached a record 1,411 contracts on October 19, 2022. Marex aims to expand its global technology-focused presence through this partnership, aligning with CME's strategy to develop a robust marketplace.
- Collaboration with Marex improves access to Aluminum futures.
- Record trading volume of 7,929 contracts achieved on October 5, 2022.
- Average daily volume of 3,000 contracts recorded in October 2022.
- Open interest reached a record high of 1,411 contracts on October 19.
- None.
LONDON and CHICAGO, Oct. 25, 2022 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, and Marex, one of the largest global metals brokers, today announced that Marex will expand its clients' access to CME Group's base metals markets, starting first with CME Group's global Aluminum futures contract.
"We continue to make tremendous progress in growing our physically-delivered Aluminum futures and offering market participants an alternative way to manage their Aluminum price risk," said Jin Chang, Managing Director and Global Head of Metals at CME Group. "Our around the clock access, global footprint and industry-leading technology are strong competitive advantages and we are pleased that Marex will offer our Aluminum markets on its Neon Metals platform as part of its global expansion plans. We look forward to providing Marex customers with the transparency and reliability that comes with transacting with CME Group."
"Expanding into CME Group's Aluminum markets responds directly to demand from our clients for access to alternative markets, but also aligns with our strategy to build a more global, technology-focused presence, which will better serve our client needs now and into the future," said Simon van den Born, President at Marex. "To complement the market access, we will also expand our research and markets coverage to include CME Group's Aluminum and other base metals markets. This supports CME Group's efforts to create a more robust marketplace that benefits the entire industry."
CME Group Aluminum markets have already seen an influx of new participation this year, reaching a single day volume record on October 5 of 7,929 contracts and an average daily volume of approximately 3,000 contracts in October month-to-date. Open interest reached a record of 1,411 contracts on October 19, 2022. Q3 also saw record volume of over 2,300 contracts per day, surpassing the previous quarterly record by approximately 1,000 contracts. July and September were the top two trading months ever recorded at 2,659 and 2,642 contracts per day respectively.
Aluminum (Product Code: ALI) futures are listed by and subject to the rules of COMEX. For more information, please visit here.
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec and EBS are trademarks of BrokerTec Europe LTD and EBS Group LTD, respectively. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners.
Marex is a diversified global financial services platform, providing essential liquidity, market access and infrastructure services to clients in the energy, commodities and financial markets.
The Group provides comprehensive breadth and depth of coverage across five core services: Market Making, Execution and Clearing, Hedging and Investment Solutions, Price Discovery and Data & Advisory. It has a leading franchise in many major metals, energy and agricultural products, executing around 38 million trades and clearing over 193 million contracts in 2021. The Group provides access to the world's major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers.
Marex was established in 2005 but through its subsidiaries can trace its roots in the commodity markets back almost 100 years. Headquartered in London with 22 offices worldwide, the Group has over 1,300 employees across Europe, Asia and America.
For more information visit www.marex.com
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SOURCE CME Group
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