CME Group has announced the first trade of its USD Malaysian Crude Palm Oil Calendar futures (CPO) contract launched on July 11.
The trade of 120 futures contracts, equivalent to 3,000 mt, took place Friday between Louis Dreyfus Commodities and a major Indonesian palm oil plantation house and was brokered by Ginga Global Markets Pte Ltd., took place on August 12, CME Group said in a statement.
"We are committed to broadening our suite of offerings within the palm derivatives complex, and are pleased to be able to better address the industry's hedging and trading needs," said Christopher Fix, CME Group's managing director and head of Asia Pacific.
The Malaysian Crude Palm Oil Calendar futures contract references Bursa Malaysia Derivatives' Crude Palm Oil futures contract prices, and trades in lots of 25 mt. The contract is available for trading on CME Globex, for submission for clearing through CME ClearPort, according to CME rules.
