LONDON — CME Group Inc.’s European clearing house has launched two new iron ore derivatives contracts, the company said Monday.

The contracts are subject to regulatory approval.

"This expansion of products is in line with CME Clearing Europe’s commitment to helping customers manage their risk associated with China’s construction industry," the Chicago-based company said.

The over-the-counter (OTC) contracts are both for 62-percent iron ore c.f.r. China, with one for whole-year (calendar) swaps and the other average-price options.

London-based CME Clearing Europe, a subsidiary of CME Group, offers more than 200 OTC products for clearing.

A version of this story was first published on AMM sister publication Steel First