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CCFE to list steel scrap contracts
The Chicago Climate Futures Exchange (CCFE) and pricing information company World Steel Dynamics (WSD) have launched the World Steel Exchange (WSE), a new exchange platform listing index-based cash-settled futures contracts for steel scrap.
The contracts, expected to launch later this year, will be traded and cleared on CCFE's platform and will be based on WSD's SteelBenchmarker price indices.
"The WSE fits the mission of CCFE; it represents an expansion of our environmental products portfolio and it offers a unique risk-management tool for the steel industry, scrap dealers and other market participants," says Richard Sandor, chairman and founder of CCFE.
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