FOi's daily roundup of news in brief, 18 February 2010

18 Feb 2010

CME to launch nine fuel oils on Nymex
The Chicago Mercantile Exchange will launch nine fuel oil futures on its New York Mercantile Exchange (Nymex) platform. The contracts will begin trading on Monday March 8 2010. Clearing and settlement services, which will also be open to over-the-counter market participants, will be handled through CME ClearPort.
The contracts to be listed are:

Mini European 1% Fuel Oil (Platts) Cargoes FOB NWE Swap Futures Mini European 1% Fuel Oil (Platts) Cargoes FOB NWE BALMO Swap Futures Mini European 3.5% Fuel Oil (Platts) Barges FOB Rdam Swap Futures Mini European 3.5% Fuel Oil (Platts) Barges FOB Rdam...

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“At our current funding level, the Commission is under serious strain. We lack the staff and resources necessary to both implement Dodd-Frank and continue to fulfil our pre-Dodd-Frank duties under the Commodity Exchange Act. Without additional funding, the strain will only become worse in July, when much of Dodd-Frank goes into effect.”

The CFTC's Michael Dunn pleads for Congressional support over the regulator's budget.

FOi's daily roundup of news in brief, 18 February 2010

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