TSI Iron Ore Fines Index to form basis of new CME Futures Contract

摘要

The CME Group is utilizing The Steel Index (TSI)'s daily iron ore price index published by Platts, a leading global provider of energy, petrochemicals, metals and agriculture information, as the settlement basis for its new iron ore futures contract launched on December 8. "Platts and TSI operate rigorous and time-tested price discovery processes in the physical metals markets," said Steven Randall, TSI managing director. "We're pleased that exchanges, such as CME, recognize the benchmark value of our price indices. The new futures contract responds to the growing appetite to manage lower grade iron ore price risk in the physical markets, which continue to evolve from long-term contracts to short-term trading."