In response to market demand, on Monday September 26, 2011, CME will introduce new trade quantity flexibility for Cleared OTC London Gold Forwards.
Currently, each contract is for 100 ounces of gold. With the new flexibility, trade quantities can be for any arbitrary amount of gold, down to one one-thousandth of an ounce (0.001 ounce). For example, you could clear a trade for 523.456 ounces of gold.
The contract value factor will correspondingly change from 100 to 1.0. There are no other changes.
The modified contract is available for testing today in the New Release environment. For more information, please contact CME Clearing at 312-207-2525.
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