The Chicago Mercantile Exchange (CME) will launch a new lead futures contract, physically delivered in the USA and Europe, pending regulatory approval, the bourse announced today.

The contract will be priced in US dollars, with a lot size of 25 tonnes, and will be traded electronically through CME Globex from November 23.

“This new contract builds on CME Group’s already broad array of global benchmark metals products and our growing base metals offering,” Derek Sammann, senior md and global head of commodities and options products, said.

The CME launched a physically delivered aluminium contract in September, and a zinc contract in June.

BTG Pactual, Henry Bath, Steinweg, Pacorini and Worldwide Warehouse Solutions have applied to be approved for delivery of the CME lead contract, in various locations in Europe and the USA.

James Heywood
Twitter: @jamesheywood_MB