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September 2009, Issue 12
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Welcome to the twelfth edition of our monthly e-newsletter. If you have any questions, comments or suggestions, please contact news@metalreg.com.
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In this month’s issue:
· CME/NYMEX - Merger completed
· NYSE Euronext - to launch NYSE Liffe on 7 September 2008
· HKMEx - New Commodity Exchange to be Launched
· TFEX - to launch a Gold Futures Contract
· LME - Metal Contracts' Prompt Dates Extended
· ISO 9001:2008 - Fourth Edition Planned
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CME/NYMEX - MERGER COMPLETED
On 22 August 2008, CME Group Inc announced that it had formally completed its purchase of Nymex Holdings Inc. The merger creates a company with pro forma 2007 annual revenue of $2.7 billion, recording average trading volumes of approximately 14.2 million contracts per day in the first two quarters of 2008.
The combined companies will provide customers around the world with access to all major benchmark asset classes, including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals.
Corporate Headquarters of the combined company will remain in Chicago at 20 S. Wacker Drive. CME Group's New York office will be located at the NYMEX World Headquarters, One North End Avenue.
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NYSE EURONEXT TO LAUNCH NYSE LIFFE ON 7 SEPTEMBER 2008
NYSE Liffe, LLC, the new U.S. Futures Exchange of NYSE Euronext, received approval on 21 August 2008 from the Commodity and Futures Trading Commission (CFTC) of its application to become a Designated Contract Market (DCM).
NYSE Euronext plans to launch the new Futures Exchange on the evening of Sunday, 7 September 2008 for trade date Monday, 8 September with the transition of Full Size and Mini Gold Futures, Full Size and Mini Silver Futures as well as Gold and Silver Options from CBOT, the futures exchange bought last year by CME Group.
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HKMEx - A NEW COMMODITY EXCHANGE TO BE LAUNCHED IN HONG KONG
It is anticipated that the Hong Kong Mercantile Exchange (HKMEx) will commence trading in 1Q 2009, subject to receiving regulatory approval from the Securities and Futures Commission (SFC) by end 2008. Its first Contract will be a US dollar-denominated fuel oil contract for physical delivery in China.
The Exchange is supported by international banks and large Chinese companies. NASDAQ OMX are developing the trading engine and LCH.Clearnet (The London Clearing House and Clearnet) is set to become the clearing house.
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TFEX - TO LAUNCH GOLD FUTURES CONTRACT
The Thailand Futures Exchange (TFEX) announced on 6 August 2008 that it is ready to launch a Gold Futures Contract, subject to receiving regulatory approval from the Securities and Exchange Commission (SEC). It will be the Exchange's third product. Gold bar quality to meet a minimum purity of 96.5%. The contract will be traded electronically and cash settled.
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LME - EXTENDS METAL CONTRACTS' PROMPT DATES
With effect from Monday 29 September 2008, prompt dates for several LME Metals Contracts' are extended as follows:-
· High Grade Primary Aluminium - from 63 months to 123 months (10 years)
· Grade A Copper - from 63 months to 123 months (10 years)
· Special High Grade Zinc - from 27 months to 63 months (five years)
· Primary Nickel - from 27 months to 63 months (five years)
· Standard Lead - from 15 months to 63 months (five years)
The official and unofficial prices remain unchanged. The Exchange, however, will publish a new 27 month reference price for Standard Lead.
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ISO 9001:2008 - FOURTH EDITION PLANNED
The International Organisation for Standardisation (ISO) has announced that the fourth edition of ISO 9001:2008 is planned for release before the end of the year. The new edition does not introduce any additional requirements compared to the last edition in 2000 and does not change the intent of ISO 9001:2000.
The ISO Technical Committee ISO/TC 176, Quality Management and Quality Assurance, which is responsible for the ISO 9000 family of standards is preparing a number of guidance/support documents. Once approved, these to be made available on the ISO website.
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