CHICAGO and NEW YORK, Oct. 27, 2020 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, and Nasdaq, a global technology company serving the capital markets and other industries, today announced futures on the Nasdaq Veles California Water Index (NQH20) will be available for trading Dec. 7, pending regulatory review.
"At a time when businesses and communities around the world face increasing water risks, we believe market-based solutions like our new Nasdaq Veles California Water Index futures can be an important part of the solution," said Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products. "Building on our partnership with Nasdaq, we are pleased to make this contract available to help agricultural, commercial and municipal water users hedge their exposure to uncertain water prices in California with greater price discovery and risk management."
As previously announced, the new California water futures contract will be financially settled based on the Nasdaq Veles California Water Index, meaning no physical water will be traded.
Nasdaq Veles California Water Index futures will be listed by and subject to the rules of CME. For more information and contract specifications, please visit www.cmegroup.com/waterfutures. For more information on the NQH20 Index developed in partnership with Veles Water Limited, visit www.Nasdaq.com/waterindexes.
About CME Group
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB, and Traiana, Inc., respectively. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners.
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us onLinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.
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SOURCE CME Group