CME Group has launched new agricultural swaps after a rule change.
US derivatives market the CME Group has introduced eight new grain and oilseed swaps.
The new swaps will be available for clearing on February 13, pending regulatory review. Among the offering are five new bullet swaps and three additional calendar swaps, which are listed with, and subject to, the rules and regulations of CBOT.
A new CFTC agricultural swap rule took effect on 31 December, 2011, allowing certification of agricultural swap products under new regulations, starting in January 2012.
Calendar swaps, which settle based on the average of the underlying futures settlement prices over a one-month period, will be offered on Soybean Meal, Soybean Oil and the Soybean Board Crush to complement the exchange's current line-up...