Aluminum swaps contract still quiet

Oct 04, 2012 | 01:23 PM | Suzy Waite

Tags  CME Group, LME, London Metal Exchange, aluminum, swaps contract, Suzy Waite

NEW YORK — CME Group Inc. continues to approach potential customers in an effort to see its fledgling aluminum premium swap futures contract gain traction, a spokesman for the Chicago-based exchange told AMM.

"Right now, we’re continuing to talk with customers and help them understand the benefits of the contract," the spokesman said, noting that it’s not unusual for new contracts to take some time before garnering interest.

"What generally happens when we launch contracts, it’s less of a big bang. If you take any of our benchmark contracts, like oil, gasoline, or even gold and silver, they all started out very slowly. It takes time for the market to (warm up)," he said.....

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