CME Group working on plan to launch rare earth futures contract, Reuters says

CME Group (CME) is looking into a plan to roll out the globe’s first futures contract in rare earths, move that would allow governments, companies, and lenders to hedge exposure to a sector controlled by China, Reuters’ Eric Onstad and Pratima Desai report, citing three sources with knowledge of the matter. Intercontinental Exchange (ICE) is also eyeing rare earth futures, but is not as far long in the endeavor as CME, the authors note.