LONDON (Commodity Online): NYSE Liffe, the European derivatives business of NYSE Euronext, today announced that the Exchanges Rapeseed Futures Contract has been added to the benchmark Rogers International Commodity Index (RICI) for the first time. The index now gives European rapeseed a weight of 0.25%.
The index was designed to meet the need for consistent investing in a broad-based international vehicle; it represents the value of a basket of commodities consumed in the global economy, ranging from agricultural to energy and metals products. The value of this basket is tracked via futures contracts on 36 different exchange traded physical commodities, quoted in five different currencies, listed on twelve exchanges in five countries.
Jim Rogers, Chairman of Rogers Holdings and founder of the Rogers International Commodity Index®, said: We're pleased to include the NYSE Liffe Rapeseed Futures in the Rogers International Commodity Index. We continue to review and maintain the Index to reflect the underlying market, which is a key reason why the RICI® is one of the most diverse, stable, and successful commodity indices in the market.
Ian Dudden, Director, Commodity Derivatives, said: We originally launched the European rapeseed contract to enable customers to hedge movements in the price of this increasingly important agricultural commodity, which is used for feed, oil, and also as a fuel. The RICI Committee's decision to include NYSE Liffe's Rapeseed Futures Contract reflects the contract's growing global significance, and we expect that it will further increase interest in our market.