CHICAGO - CME Group, the world's leading and most diverse derivatives marketplace, and Nasdaq, a global technology company serving the capital markets and other industries, today announced futures on the Nasdaq Veles California Water Index (NQH20) will be available for trading Dec. 7, pending regulatory review.
'At a time when businesses and communities around the world face increasing water risks, we believe market-based solutions like our new Nasdaq Veles California Water Index futures can be an important part of the solution,' said Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products. 'Building on our partnership with Nasdaq, we are pleased to make this contract available to help agricultural, commercial and municipal water users hedge their exposure to uncertain water prices in California with greater price discovery and risk management.'
As previously announced, the new California water futures contract will be financially settled based on the Nasdaq Veles California Water Index, meaning no physical water will be traded.
About CME Group
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data - empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.
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About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence.
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