SCB Group Assists in First Biodiesel Paper Swap on CME Clearport
March 24, 2009
SCB Group assisted two customers transact the first biodiesel paper swap to be cleared through the CME Clearport system. The trade, closed on the 23rd of March, between two of Europe’s leading Biodiesel trading houses, was for April 2009 RME as per the Argus Media quotation, the standard for the market. Clearport offers a great way for counterparties to mitigate credit exposures and we are hopeful for much more interest in RME trading as a result. In addition CME Clearport will soon list FAME 0 as a contract.
We see the addition of RME and FAME 0 to CME Clearport as being a welcome enhancement to liquidity in the biodiesel paper swap market and encourage any of our customers interested to call us to discuss the mechanics of trading paper swaps and of using CME Clearport.
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