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CME-Linked Index May Add Brent Crude
A CME Group-linked index is considering tracking benchmark European crude.
A CMEGroup-linked index is considering tracking benchmark European crude, Financial Times reports. The Dow Jones-UBS Commodity Index’s supervisors may add Brent crude to its 19 futures contracts tracked by about $77 billion in assets.
The proposal is expected to shift more oil trading volume and investor money to Brent. The only crude type now in the index is West Texas Intermediate (WTI), which is mainly traded on CME’s New York Mercantile Exchange. The reshuffling process, which may occur in January 2012, will result in the acquisition of Brent and WTI’s sale.
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