Goodbye, zinc rally: CME Group creates futures contract, engages JPM to rig price

Section:

By Luc Cohen
Reuters
Monday, May 18, 2015

CME Group Inc. said on Monday it would launch a zinc futures contract next month, stepping up a global battle for metals market share with the London Metal Exchange amid expanding Asian markets.

CME's announcement, which included a statement from JP Morgan Chase & Co. expressing strong support for the move, said the new zinc contract will begin trading June 29. The first available U.S. delivery was targeted for October, pending regulatory reviews, CME said.

The statement did not explain JPMorgan's role in the zinc contract, but a source familiar with the matter said JPMorgan "absolutely" intends to provide liquidity on the new market, adding to its existing market-making activities on the LME. ...

... For the remainder of the report:

http://www.reuters.com/article/2015/05/19/us-metals-cme-zinc-idUSKBN0O40...



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