SCOTTSDALE, Ariz., Nov. 7, 2024 /PRNewswire/ -- Flack Global Metals (FGM), a diversified platform specializing in the buying, selling, manufacturing, trading and investing in flat rolled steel, announced today the execution of the first European hot rolled steel options trade, further cementing its status as a first-mover across the steel ecosystem.
While this is the first options trade recorded, Flack Metals Trading SA, the global trading arm of FGM, based in Lugano, Switzerland, already trades futures and is confident that this first options trade will create further liquidity and price discovery.
"We are excited to be party to the first European hot rolled steel options trade. This contract demonstrates our market leadership in spurring new markets and will act as an effective risk management tool for our international trading arm, which merchants ferrous and non-ferrous material globally," said Gianpiero Repole, Managing Director of Flack Metal Trading.
The trade was cleared on the Chicago Mercantile Exchange, part of CME Group, the world's largest derivatives marketplace.
About Flack Global Metals
Launched in 2010, Flack Global Metals ("FGM") is a hybrid industrial organization specializing in the buying, selling, manufacturing, trading and investing in flat rolled steel. FGM is creating an innovative platform based on risk management and hedging practices combined with a culture of innovation to reduce friction and provide optionality in the volatile steel industry, ultimately increasing enterprise value for all members. With headquarters in Scottsdale, Arizona, FGM has additional offices in Cleveland, Chicago, Atlanta, Lugano, and London.
Media Contact
Haley Rowland, FGM
Director of Marketing & Communications
678-995-4156
hrowland@flackglobalmetals.com
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