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KRMEX Announces the Launch of Four New Biofuel Swap Futures Contracts - Korea Mercantile Exchange (KRMEX) is proudly to announce the launch of trading and clearing services for four new biofuel swap futures contracts - KRMEX.org
KRMEX Announces the Launch of Four New Biofuel Swap Futures Contracts

 

PRZOOM - /newswire/ - Seoul, Jongrogu, Korea (South), 2012/06/12 - Korea Mercantile Exchange (KRMEX) is proudly to announce the launch of trading and clearing services for four new biofuel swap futures contracts - KRMEX.org.

   
 
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Biofuel is a type of fuel whose energy is derived from biological carbon fixation. Biofuels include fuels derived from biomass conversion, as well as solid biomass, liquid fuels and various biogases. Although fossil fuels have their origin in ancient carbon fixation, they are not considered biofuels by the generally accepted definition because they contain carbon that has been "out" of the carbon cycle for a very long time. Biofuels are gaining increased public and scientific attention, driven by factors such as oil price hikes, the need for increased energy security, concern over greenhouse gas emissions from fossil fuels, and support from government subsidies.

Trading will be available on the Korea Mercantile Exchange trading floor and clearing services through KRMEX Clearing Members, a set of flexible clearing services open to over-the-counter (OTC) market participants to substantially mitigate counterparty risk and provide neutral settlement prices across asset classes. These contracts will be listed by Korea Mercantile Exchange and subject to the rules and regulations of KRMEX.

The new swap futures contracts and their commodity codes will be:
· SSD biodiesel FTB vs. IGE gasoil spread;
· ERME 0 biodiesel FTB vs. ICE gasoil spread;
· Ethanol T1 FTB excluding duty;
· Ethanol T2 FTB including duty.

The contracts will be listed for 24 consecutive months. The ethanol contracts will be 100 cubic meters in size, with a minimum price fluctuation of of $0.001 per tick (T1) and €0.001 per tick (T2). The biodiesel contracts will be 100 metric tons in size, with a minimum price fluctuation of $0.001 per tick.

“These new contracts add to the already successful suite of biofuel swap futures that are currently listed on KRMEX, and provide the ultimate level of customer protection and mitigation of counterparty risk through KRMEX Clearing Members,” said Charles Aniston, Director of Energy Products and Services. “This gives our global customer base the margin efficiencies that are afforded by clearing these important international contracts in one clearinghouse.”

As a fully automated exchange devoted to developing the derivatives market, the Korea Mercantile Exchange has the most outstanding candidates that fill positions within various sectors of the organization. Sectors include Finance and Financial Markets, Information Technology (IT), and Risk Management. The KRMEX provides you with the opportunity to realize your ambitions in a dynamic and stimulating work environment, where teamwork, information sharing, accountability, and flexibility all contribute to our mutual success.

 
 
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KRMEX Announces the Launch of Four New Biofuel Swap Futures Contracts

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Contact: Dong Wang - KRMEX.org 
+88 3510008162782 contact[.]krmex.org
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any KRMEX securities in any jurisdiction including any other companies listed or named in this release.

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