CME Group and RIM Intelligence to cooperate in developing energy risk management products for Japan

CME Group and RIM Intelligence to cooperate in developing energy risk management products for Japan


CME Group, the world's leading and most diverse derivatives marketplace, and RIM Intelligence, Japan's foremost provider of energy price and information services, today announced they have signed an agreement to develop clearing services for over-the-counter (OTC) risk management products used by the Japanese energy industry. The products will be listed and subject to the rules of NYMEX and cleared through CME ClearPort.

"As we grow our energy business across the globe, partnerships with market-leading pricing organizations like RIM Intelligence are central to CME Group's strategy of developing regional products and services for customers," said Gary Morsches, Managing Director Energy Products at CME Group. "RIM's prices are the trusted yardstick in the Japanese energy market and we look forward to delivering clearing services which will substantially mitigate counterparty risk for users of RIM-based products."

"Our energy prices are used as a benchmark both within Japan and in international markets. We are delighted to be the first Japanese company to work with CME Group in an energy price-related field. Through this co-operation, we hope to see active participation by market players and to contribute to the overall vibrancy and liquidity of over-the-counter trades in the energy market," said Hisako Mori, President of RIM Intelligence.

CME Group's global energy risk management tools include the crude oil benchmark WTI and Brent contracts, as well as futures and options on asset classes including natural gas, electricity, heating oil and ethanol. Serving the global OTC market, CME ClearPort is a comprehensive set of flexible clearing services, offering a range of cleared swaps for customers wishing to manage price risk in energy and other commodity sectors.

Founded in 1984, RIM Intelligence is Japan's most established energy pricing vendor and has distinguished itself as the leading supplier of quality information on energy markets not only within Japan but also in the international arena, with an emphasis on accuracy and timeliness. RIM provides price assessments for various energy markets including crude oil, petroleum products, LNG, LPG and petrochemicals to clients throughout the world.