News Release

CME Group Announces Launch of E-micro Gold Contracts

Thu Sep 09 2010

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

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SOURCE CME Group

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