World Steel Exchange Marketing

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World Steel Exchange (WSE)
WSEM Logo.jpg
Founded 2009
Key People Peter Marcus, CEO, Founding partner
Products Futures contracts based on steel products

The World Steel Exchange Marketing, LLC (WSEM) is a venture founded in 2009 by World Steel Dynamics Inc. as a platform for futures contracts on steel products. In May 2013, NASDAQ OMX Group and WSEM announced a strategic partnership to develop financially settled steel and steel scrap futures products to be traded on the NASDAQ OMX Futures Exchange (NFX). [1]


History

WSEM was launched in 2009 as the "World Steel Exchange" and, along with the CCFE, planned to launch contracts on the CCFE's trading platform based on price indices, including SteelBenchmarker, a joint venture between World Steel Dynamics and AMM/Metal Bulletin.[2] The launch was delayed and, after the Intercontinental Exchange (ICE) purchased the CCFE in 2011, the steel venture was delayed indefinitely.

The partnership with NASDAQ OMX, announced in May 2013, is expected to launch its first contracts in the fourth quarter of 2013. Additional products are expected to follow, including European and world export market steel futures.

Products and Services

Futures contracts based on steel products.

Key People

Peter Marcus, CEO, founding partner

References

  1. NASDAQ OMX and World Steel Exchange Marketing Announce Strategic Partnership. Globe NewsWire, via Yahoo! Finance.
  2. New exchange to launch trading in scrap futures. AMM.com.