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CME delays aluminum contract launch to May 6

Author:Site  Source:Original Site  Click to rate:1274  Post time:2014-04-11

Tags: CME ALUMINUM/CONTRACT

Thu, 10 Apr 18:37:00 GMT
(Adds reason for delay in 3rd paragraph)

NEW YORK, April 10 (Reuters) - CME Group Inc has delayed the launch of its physically-backed U.S. aluminum contract by one day, the exchange said in a notice to members on Thursday.

The Chicago-based exchange will now list the contract, aimed at challenging the London Metal Exchange's stronghold in the 50-million-tonne market, on Tuesday, May 6, instead of its original Monday, May 5, launch date, it said. [ID:nL1N0MO1UV]

The original listing date clashed with the May Day bank holiday in Europe, a spokesman said.

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