CME Group To Launch Cobalt Hydroxide Futures On October 23
Portfolio Pulse from Benzinga Newsdesk
CME Group, a leading derivatives marketplace, announced the launch of Cobalt Hydroxide futures on October 23, pending regulatory reviews. This is the fourth battery metals futures contract by CME Group, aimed at addressing the evolving hedging needs in the growing electric vehicle sector. The futures will be financially-settled based on Fastmarkets' cobalt hydroxide price assessment. The new contract will be listed by COMEX under the product name Cobalt Hydroxide CIF China (Fastmarkets) futures.
September 18, 2023 | 12:01 pm
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CME Group's launch of Cobalt Hydroxide futures could attract more participants in the global battery supply chain, potentially increasing trading volumes and revenues.
The launch of Cobalt Hydroxide futures by CME Group is a strategic move to cater to the growing electric vehicle sector. As demand for battery metals increases, the new futures contract could attract more market participants, leading to increased trading volumes and revenues for CME Group. However, the impact will depend on the acceptance of the new futures contract by the market participants.
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