LONDON, UK and CHICAGO, U.S. – CME Group, the world’s leading and most diverse derivatives marketplace, has won two categories at the Futures and Options World (FOW) International Awards: Exchange of the Year – U.S. and Canada; Most Innovative New Contract Launch by an Exchange – Cocoa on CME Europe.
FOW cited CME Group for being at the forefront of innovation with the expansion of its commodities offering in cocoa, zinc and aluminum; the introduction of the first-ever physically delivered crude oil storage futures contract and a double digit growth in volumes partly due to European clients flocking to trade CME’s Eurodollar contract.
“We appreciate the recognition of FOW and its readers in choosing CME as Exchange of the Year,” said Executive Chairman and President Terry Duffy.
“Given volatility in markets this year, risk management continues to be more important than ever, and we are pleased to facilitate that for our customers around the world with innovative products, the safety and security of our clearing houses and industry-leading technology.”
CME Europe, CME Group’s European exchange, picked up the award for Most Innovative New Contract Launch by an Exchange for its Cocoa futures launched in March 2015. The contract design was a result of extensive consultation and collaboration with many of the leading participants in the international cocoa trade and industry.
“We are delighted to be recognised for our contribution to the cocoa market,” said Cees Vermaas, CEO of CME Europe.
“We saw an opportunity to not only create an innovative contract that reduced risk, decreased costs and increased efficiencies, but also to overhaul actual physical procedures and systems that underpinned that contract. The contract has been successfully trading since launch and welcomed by a broad range of market participants.”
The FOW International Awards are designed to recognise the pioneers of the global derivatives market across a range of categories and disciplines. Companies are invited to enter into relevant categories, after which a shortlist is drawn up and voted on by a panel of expert judges.
The awards were presented at FOW International Awards Gala Dinner on 8 December 2015 at Grange City Hotel in London. This was held following the FOW’s “Derivatives World London: The Debates”, an event which brought together high-level delegates from across the derivatives industry to discuss key themes and trends that are shaping the industry.
