Launched on March 23, 2005, the CBOT Ethanol futures contract is designed to meet the growing demand for an effective vehicle for price discovery and the management of price volatility within the domestic ethanol market.
CBOT President and CEO Bernard W. Dan said, “The CBOT is extremely pleased with Noble Americas’ renewed commitment to the Exchange’s Ethanol futures contract. The firm’s continued participation bolsters the contract’s credibility as the ethanol industry’s pricing benchmark, an important point of reference for prices among ethanol producers and consumers. Last week’s open interest record for the contract equates to about 7.5 million gallons of ethanol.”
Noble Americas Vice President of Clean and Specialty Products William Covey said, “Noble Americas Corp. has reaffirmed its commitment to the CBOT Ethanol futures contract as market maker. We feel an active Ethanol futures contract is essential to the growth and well-being of the ethanol industry and its customers. Noble Americas is proud of its contribution to this important segment of the nation's transportation fuel market.”
Separately, in response to increased trading volume in the Exchange’s Ethanol futures contract as well as industry requests, the CBOT has extended the duration/contract expiration from March 2006 to August 2006, allowing the CBOT’s Ethanol contract to trade for 12 consecutive months. Also, recent increases in trading volume associated with industry acceptance of the CBOT’s Ethanol contract have caused the number of ethanol facilities registered to be regular for delivery to increase to 17 facilities, representing more than 57 millions gallons of deliverable capacity.
For more information on the CBOT’s Ethanol futures contract, please visit the Exchange’s Website at www.cbot.com/ethanol.
About Noble Americas
Noble Americas Corp. is a wholly owned U.S. subsidiary of the Noble Group, a global supply chain manager of industrial raw materials and transport resources, which links producers and consumers by integrating sourcing, marketing, processing, transportation and finance. The company trades in grains and other agricultural products, fossil fuels, metals and clean oil products, such as ethanol. Noble Americas has extensive relationships with the nation’s leading gasoline refiners and blenders, and in 2004, was one of the nation’s largest non-producer suppliers of gasoline components.
About the CBOT
As one of the leading global derivative exchanges, the Chicago Board of Trade (CBOT) provides a diverse mix of financial, equity, and commodity futures and options-on-futures products. For more than 157 years, the CBOT continues to advance into the future using the strength of deep liquidity, market integrity, and member-trader expertise. Using superior trading technology in both electronic and open-auction trading platforms, the CBOT provides premier customer service to risk managers and investors worldwide.