LONDON and CHICAGO, Sept. 9
/PRNewswire/ -- CME Group, the world's leading and most diverse
derivatives marketplace, today announced the launch of E-micro gold
futures exclusively on CME Globex to begin trading on October 3 for trade date October 4. These
contracts will be listed by and subject to the rules and
regulations of COMEX.
The E-micro gold contract is one-tenth the size of the benchmark
100-oz full-size gold futures contract and carries a smaller
initial margin requirement. It also has lower trading fees than the
standard gold contract, but offers the same full investor
safeguards of trading in CME Group's regulated environment.
"Customers have expressed specific interest in trading a smaller
gold contract because it provides a more economical approach for
trading gold futures and it gives them more flexibility to execute
a variety of trading strategies over varying time periods," said
Joe Raia, CME Group Managing
Director of Energy Products and Services. "More active market
participants, such as Commodity Trading Advisors, can use these as
a more efficient way to adjust positions or create more precise
delta adjustments to trading strategies."
In addition, currency traders who use gold in their trading
strategies now have a more appropriate size for trading in
conjunction with the suite of CME E-micro FX contracts.
When E-micro gold contracts are taken to delivery, market
participants receive an Accumulated Certificate of Exchange ("ACE")
which represents 10% ownership in a 100-oz gold bar, held in the
form of a COMEX gold warrant. Through accumulation of ACEs and a
conversion process, delivery can be made or taken of a 100-oz COMEX
gold warrant (depository receipt). E-micro gold futures do not
allow for an individual to take possession nor delivery of a 10-oz
gold bar.
Listed contracts will include February, April, June, August,
October and December falling within a 24-month period. Trading
hours are Sunday through Friday 6:00
p.m. – 5:15 p.m. (5:00 p.m. – 4:15
p.m. Chicago Time/CT) with a 45-minute break each day
beginning at 5:15 p.m. (4:15 p.m. CT). For more information, please go to
www.cmegroup.com/emicrogold.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers together
through its CME Globex® electronic trading platform and its trading
facilities in New York and
Chicago. CME Group also operates
CME Clearing, one of the largest central counterparty clearing
services in the world, which provides clearing and settlement
services for exchange-traded contracts, as well as for
over-the-counter derivatives transactions through CME
ClearPort®. These products and services ensure that businesses
everywhere can substantially mitigate counterparty credit risk in
both listed and over-the-counter derivatives markets.
CME Group is a trademark of CME Group Inc. The Globe logo, CME,
Chicago Mercantile Exchange, Globex and E-mini are trademarks of
Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the
Board of Trade of the City of Chicago. NYMEX, ClearPort and
New York Mercantile Exchange are trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange,
Inc. All other trademarks are the property of their
respective owners. Further information about CME Group
(Nasdaq: CME) and its products can be found at
www.cmegroup.com.
CME-G
SOURCE CME Group
Copyright t. 9 PR Newswire