CME Group (CME) and China Securities Index Co. Ltd announced that they have signed an index development and product licensing agreement.
As per the agreement, CME Group will grant CSI a license to use certain CME Group market data for the purposes of developing, calculating and disseminating commodity indexes. The first product to be jointly developed will be the CSI CME Group China Commodity Consumption Index, which is based on the end-of-day settlement prices for CME Group futures contracts on Soybeans and Corn, listed on and subject to the rules of CBOT; as well as Natural Gas, West Texas Intermediate Crude Oil, and Copper, listed on and subject to the rules of NYMEX; and Gold and Silver, listed on and subject to the rules of COMEX.
The agreement also provides for the listing, trading and clearing of derivatives products based on the commodity indexes to be developed by CSI and CME Group.
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