CME Group cancel launch of commodity excess return futures

CME Group has cancelled the launch of four commodity excess return futures. The futures had originally been scheduled to be launched on 14 October, but in a statement the exchange gave no explanation for the cancellation.

The contracts were linked to four indices on the Goldman Sachs Commodity Index (GSCI) - energy excess return index, non-energy excess return index; industrial metals excess return index and natural gas excess returns index.

The excess return index reflects the GSCI spot index returns plus any excess return resulting from the discount or premium an investor would receive by "rolling" the hypothetical positions in the contracts forward to the nearby futures contract as they approach delivery.

CME Group also revealed that it will waive all trading fees on it’s soon-to-be-launched emerging markets futures. The index measures the equity markets of 28 emerging economies, including China, Brazil and India.

The fees will be waived until 30 June 2008.