WASHINGTON (dpa-AFX) - Futures exchange operator CME Group, Inc. (CME) announced the first trade of its new European Power Contracts, which was traded for the first time on CME Europe, CME Group's European exchange, on Tuesday.
The trade comprising five megawatts, totaling 60 contracts, of German base load Calendar Year 2016 brokered by GFI Brokers Limited, involving Mercuria Energy Trading SA and Freepoint Commodities Europe LLP as the counterparts.
CME has a suite of eight European Power cash-settled futures for the leading electricity markets, with base load and peak load available for Germany, France, Italy, and Spain. They are available on CME ClearPort and CME Globex, and are distributed via the Trayport platform alongside other exchange products.
The new power contracts are subject to the rules of CME Europe and cleared via CME Clearing Europe, CME Group's European clearing house.
Copyright RTT News/dpa-AFX