CME Group are in discussions with oil market participants over the development of a Gulf Coast Crude Oil Future.
The new contract will be designed at the ECHO terminal, a storage facility being constructed by Enterprise Products Partners and will be listed on the New York Mercantile Exchange.
Connected to multiple facilities along the Houston Ship Channel, the new terminal is expected to begin service during the second quarter of 2012.
This will ultimately be the destinations of Enterprise's Eagle Ford Crude pipeline, as well as the Seaway pipeline following the...