Platts prices chosen to settle the new CME Group aluminum Japan futures contract

CME Group, a leading derivatives marketplace, is utilizing Platts physical market price assessments to settle and clear a new aluminum Japan futures contract launched today. Platts is a leading global provider of energy, metals and agriculture information and a premier source of benchmark price assessments.

“As an independent provider of aluminum price benchmarks for several decades, we’re pleased to have exchanges such as CME Group recognize the reputation we’ve won in the marketplace and the role we play in price discovery by bringing greater transparency to the physical markets,” said Andrew Goodwin, Platts general manager of metals, petrochemicals and agriculture.

The Platts CIF Japan Spot Premium for Aluminum assessment, published daily in the real-time news, information and analysis service Platts Metals Alert and in Platts Metals Daily, is the cash settlement reference for the new Aluminum Japan Premium (Platts) futures contract, which was announced by CME Group on November 18, 2015.

This is the second CME aluminum derivatives contract to be based on Platts prices. Since April 2012, CME Group has utilized the Platts Metals Week (MW) U.S. Aluminum Transaction Price assessments, which date back to 1984, to settle its Aluminum MW U.S. Transaction Premium Platts (25MT) Swap Futures contract, which reached a record open interest of 20,061 contracts at the end of October.

Platts has covered news and pricing in the global aluminum markets for more than four decades and started its suite of U.S. aluminum price assessments in 1972. In addition to its aluminum assessments, Platts also publishes daily price references for the upstream raw input, alumina, since August 2010.

With today’s launch, CME Group settles and clears more than 720 contracts based on spot market price assessments published by Platts.

In addition to CME Group, other global exchanges and clearing houses, including the London Metals Exchange, the Singapore Exchange, LCH Clearnet, Intercontinental Exchange (ICE), Borsa Istanbul and NASDAQ OMX, utilize Platts and or its TSI price assessments for settling and clearing derivatives contracts.

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