CME Group Announces Dec. 7 Launch of Nasdaq Veles California Water Index Futures
October 27, 2020 at 09:00 AM EDT
CHICAGO and NEW YORK, Oct. 27, 2020 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, and Nasdaq, a global technology company serving the capital markets and other industries, today announced futures on the Nasdaq Veles California Water Index (NQH20) will be available for trading Dec. 7, pending regulatory review.
"At a time when businesses and communities around the world face increasing water risks, we believe market-based solutions like our new Nasdaq Veles California Water Index futures can be an important part of the solution," said Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products. "Building on our partnership with Nasdaq, we are pleased to make this contract available to help agricultural, commercial and municipal water users hedge their exposure to uncertain water prices in California with greater price discovery and risk management."
As previously announced, the new California water futures contract will be financially settled based on the Nasdaq Veles California Water Index, meaning no physical water will be traded.
Nasdaq Veles California Water Index futures will be listed by and subject to the rules of CME. For more information and contract specifications, please visit www.cmegroup.com/waterfutures. For more information on the NQH20 Index developed in partnership with Veles Water Limited, visit www.Nasdaq.com/waterindexes.
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SOURCE CME Group