CME Group will launch 18 natural gas basis, index and swing swaps futures contracts on ClearPort, the OTC clearing service that belonged to the New York Mercantile Exchange, which CME has acquired.
Basis, index and swing swaps are traditionally over-the-counter derivatives, used to fine-tune arrangements for natural gas trading.
In a basis swap, the parties fix a price differential relative to the Nymex gas contract for the location where gas is to...