CBOT launches OTC ethanol contracts

Hot on the heels of its benchmark ethanol futures contract, the Chicago Board of Trade has unveiled plans for two new over-the-counter (OTC) Ethanol Calendar Swap contracts.

The contracts will be the first OTC products to be cleared at CBOT, and are scheduled for launch on December 4, 2006.

The new products represent a first in the rapidly evolving ethanol industry and will include contracts for both forward and previous month calendar swaps. The Board also confirmed that they will be based on