Commodities Management Exchange CMX) has announced plans to launch OTC metals contracts in the next month.
CMX, a Northfield, Illinois-based Internet company that holds physical metals auctions, will start with cash settled forward and swaps contracts on primary and secondary aluminum. The exchange is also developing copper, zinc as well as platinum contracts. Mike Castagna, of CMX told FO Week that end users such as automobile makers, parts manufacturers and aluminum companies that are active users of CMX's metals auctions will be the primary users of its forward contracts. CMX,...