Jun 8, 2011
CME Group's (NYSE:CME) subsidiary CME Clearing announced it added two new over-the-counter diesel and two biodiesel contracts for clearing as the company expands its European product offerings.
The company also said it would be adding Credit Suisse (NYSE:CS) as a clearing member firm bringing the total number of clearing members to 16.
Andrew Lamb, Chief Executive Officer of CME Clearing Europe said, "We continue to develop opportunities for helping our customers in Europe who need to manage their risk in the energy market, and in the coming weeks we will be adding more agricultural and energy specific contracts as we now start to increasingly expand our service offerings for the region. As the industry looks for ways to manage the risk associated with customer portfolios and to meet new regulatory requirements, we are encouraged by the growing interest from market participants to connect to CME Clearing Europe."
CME Group has a potential upside of 34.1% based on a current price of $265.98 and an average consensus analyst price target of $356.65.
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