CME launches inflation contract
The Chicago Mercantile Exchange has launched a futures contract on the eurozone Harmonised Index of Consumer Prices, hoping manufacturers of inflation-linked notes will use the hedging product. Not everyone is convinced the exchange has got its timing right, however, as John Ferry discovers
The Chicago Mercantile Exchange (CME) will launch a futures contract on the eurozone Harmonised Index of Consumer Prices excluding tobacco (HICP) on September 19, aimed partly at any European manufacturers of inflation-linked notes that might require a hedging product. "We are targeting the product at European banks that are currently selling structured products linked to the HICP and would use the market to hedge themselves," says Sayee Srinivasan, Chicago-based associate director of research
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