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CME Group and Rim Intelligence sign license agreement

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LNG Industry,

CME Group has announced that it has signed a license agreement with Rim Intelligence. Under the agreement, CME Group is permitted to exclusively develop and clear energy derivatives based on the Rim DES Japan LNG Assessment, available for submission to CME Clearing via the Japan OTC Exchange, and through OTC brokers.

Terry Duffy, Executive Chairman and President of CME Group, said of the deal: "CME Group is pleased to partner with a market-leading price reporting agency like Rim Intelligence, as we continue to grow our energy business across the globe […] We look forward to providing clearing services which will mitigate counterparty risk for users and traders of various OTC energy products developed and based on the Rim DES Japan LNG assessment."

Christopher Fix, Managing Director and Head of Asia-Pacific of CME Group, added: "This is an exciting development for the LNG markets in Asia, and in Japan […] Through this partnership, we hope to see greater involvement by market participants in managing their LNG price risks, and create a more vibrant and liquid energy market, as deregulation of the industry continues to pick up pace."

Takamichi Hamada, President and CEO of Tokyo Commodity Exchange, and Member of Management Committee of Japan OTC Exchange, concluded: "Thanks to the clearing service provided by CME Group, the safety of LNG transactions on Japan OTC Exchange will be greatly enhanced and will allow our members to trade with a high level of comfort, which I believe would lead to the further development of the LNG markets in Asia."

Edited from press release by

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