CME Group retries Rebco contract

CME Group has launched a financially settled Russian Export Blend Crude Oil (Rebco) financial futures contract on its Globex and ClearPort platforms, even though its current physically delivered Rebco contract has had little success.

The new contract will be financially settled based on Argus Media's Urals FOB Primorsk assessment. It began on November 23 for trade date November 24 and will be listed for up to 48 consecutive months, beginning with the January 2009 contract.

According to CME, while

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