CME Group Issues Order Concerning AIG Block Trades
CHICAGO, Sept 16, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- CME Group, the world's largest and most diverse derivatives exchange, has issued the following statement:
"CME Group took an emergency action today to facilitate the reduction of the positions of American International Group, Inc. (AIG) and its subsidiaries and to protect the orderly functioning of the market. The agreed-upon order permits the limited execution of block trades by AIG in certain CME and CBOT commodity futures products, including Soybeans, Soybean Oil, Corn, Wheat, Live Cattle and Lean Hogs, for the purpose of liquidating a portion of AIG's open positions. A block trade is a privately negotiated transaction between eligible contract participants that is executed outside of the public auction market. The order is effective through Wednesday, September 17, 2008."
CME Group (http://www.cmegroup.com) is the world's largest and most diverse derivatives exchange. Building on the heritage of CME, CBOT and NYMEX, CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on trading floors in Chicago and New York. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, and alternative investment products such as weather and real estate. CME Group is listed on NASDAQ under the symbol "CME."
The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex and E-mini, are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX, New York Mercantile Exchange, and ClearPort are trademarks of New York Mercantile Exchange. Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group and its products can be found at http://www.cmegroup.com.
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SOURCE CME Group
http://www.cmegroup.com
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