CME Group, the world's leading and most diverse derivatives marketplace, today announced that in December it will begin transitioning its CME Dairy Spot Call, for daily price discovery in physical dairy markets, to an electronic, transaction-based auction, which can be accessed through CME Direct. Ultimately, this will replace the physical spot market held via a limited open outcry session on the company's Chicago trading floor that currently facilitates price discovery, trading and delivery of dairy products such as Cheese Barrels, Cheese Blocks, Butter and Nonfat Dry Milk.
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