CHICAGO, Aug. 22, 2016 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced it will expand its base metals offering with the introduction of Alumina FOB Australia (S&P Global Platts) futures and Alumina FOB Australia (Metal Bulletin) futures. Both contracts will begin trading on September 26, 2016. Pending relevant regulatory review periods, these new contracts will be available for trading on CME Globex, for submission for clearing through CME ClearPort, and will be listed with and subject to COMEX rules.

"These two new Alumina futures contracts are an innovative solution designed to help our customers better manage risk across multiple sources of volatility," said Young-Jin Chang, CME Group Global Head of Metals Products. "As we continue to experience strong momentum across our aluminum product suite, we are committed to working with market participants and customers in the aluminum industry around the world to meet their evolving needs."

"We are pleased to see the creation of a liquid, transparent futures market for fixed price alumina," said Zach Mayer, ARG International AG Trader. "We believe there is now, and has been for years, strong demand for a product of this nature, from various participants in the alumina market globally, and we look forward to transacting in this new market for years to come."

Volume for CME Group's Metals Products averaged 503,000 contracts per day in July 2016, up 32 percent from July 2015. Open interest in its suite of aluminum products surpassed 42,000 contracts in July 2016.

These new futures contracts will complement CME Group's existing suite of aluminum risk management tools, including its Aluminum A380 Alloy (S&P Global Platts) futures, Aluminum MW U.S. Transaction Premium Platts futures, Aluminium European Premium Duty-Paid (Metal Bulletin) futures, Aluminium European Premium Duty-Unpaid (Metal Bulletin) futures, Aluminum Japan Premium (Platts) futures, and physically delivered Aluminum futures.

Alumina FOB Australia (Metal Bulletin) futures will be 100 metric tons (equivalent to 220,462 pounds) in size and will be financially settled each month against the weekly price index published for Alumina FOB Australia by Metal Bulletin.

Alumina FOB Australia (S&P Global Platts) futures will be 100 metric tons (equivalent to 220,462 pounds) in size and will be financially settled each month against the daily price index published for Alumina FOB Australia by S&P Global Platts.

For more information on CME Group's Metals Products, please visit www.cmegroup.com/metals.

As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. Around the world, CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its exchanges based in Chicago, New York and London. CME Group also operates one of the world's leading central counterparty clearing providers through CME Clearing and CME Clearing Europe, which offer clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives. CME Group's products and services ensure that businesses around the world can effectively manage risk and achieve growth.

CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com.

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SOURCE CME Group