CME launches UCOME futures contracts

In the UK, CME Group announced the first trade of the Used Cooking Oil Methyl Ester (UCOME) futures contracts. Ten contracts were traded on September 16, 2020. Open interest was at 65 contracts as of September 22, 2020.

Tullett Prebon Energy & Commodities, part of TP ICAP, a leading provider of market infrastructure, became the first broker to transact Europe’s first UCOME derivatives contracts between two counterparties.

CME Group launched four Renewable Fuel Futures contracts on August 17, 2020, based on demand from customers for new tools to help manage exposure to the growing waste oils sector. The UCOME contracts are financially settled to the Argus Media UCOME FOB ARA assessment.