CME looks into launching first ever rare earth futures contract, sources say

CME Group is working on a plan to launch the world's first futures contract in rare earths, three sources with knowledge of the matter told Reuters, in a move that would allow governments, companies and banks to hedge exposure to a sector controlled by China.

Rival Intercontinental Exchange is also looking at rare earth futures, but is not as advanced in its planning as the CME, two of the sources said.