October 19, 2010

Revisions to COMEX Rule for Copper Futures Matched Order Transactions

Effective October 25, 2010, COMEX will adopt amendment to Rule 524 (Matched Order ("MO") Transactions") that address the time period during which Copper futures orders may be executed via open outcry as MO transactions in the Copper futures pit.

MO transactions in pit-traded Copper futures are open outcry trades competitively executed in the Copper futures pit where the trade is priced at that day's settlement price for the contract. The rule is being modified to allow for orders entered as MO transactions to be executed at any time the Copper futures pit is open for trading, with the exception of the post close session. Additionally, MO transactions will be eligible for execution in the spot month and the next six consecutive contract months in pit-traded Copper futures.

If you have any questions, please contact Bob Biolsi, Director, Energy/Metals Research and Product Development, at (212) 299-2610.

Gold Sets Volume and Open Interest Records

Gold futures set a new open interest record of 638,283 contracts as of October 14, 2010. This record tops the previously recorded milestone of 627,336 contracts as of October 13. Earlier in the month, on October 7, Gold options registered a new daily volume record of 102,292 contracts traded.

E-micro Gold Futures (MGC) Launched; Fee-Free for Six Months

Launched for trade date Monday, October 4, the Exchange's new E-micro gold futures contracts (commodity code: MGC; rule chapter 120) are now available for trading on CME Globex.

• Fees, including Exchange fees and delivery fees, will be waived for market participants for a period of six months from launch date.
• There will be no charge for the conversion of 10 E-micro Gold futures into one COMEX Gold warrant.

Fees (beginning April 4, 2011)

Listing of New Iron Ore (Platts) Swap Futures

On trade date October 18, the Exchange expanded its suite of ferrous products to include Iron Ore 62% FE, CFR North China (Platts) swap futures.

The Iron Ore 62% Fe, CFR North China (Platts) Futures contract is listed by NYMEX, and is subject to NYMEX and Chicago Mercantile Exchange Inc. rules and regulations.

Addition of Approved Depository for Precious Metals Futures

Effective Monday, September 27, 2010, a new vault location will become available for the the storage of gold, silver, platinum, and palladium against the gold (GC), silver (SI), platinum (PL), and palladium (PA) futures contracts.

The new Exchange Licensed Depository for Brink's, Inc. is located at 580 Fifth Avenue, New York, NY.

For further information, please contact:

Market Regulation:
Melissa Hubley, melissa.hubley@cmegroup.com - 312.435.3595

Energy & Metals Research:
Joann Arena, joann.arena@cmegroup.com - 212.299.2356

Listing of Gold Volatility Index (VIX) Futures Contracts

Beginning for trade date Monday, October 18, 2010, the Exchange has listed a Gold Volatility Index (VIX) futures contract for trading on CME Globex and for clearing through CME ClearPort.

The contract is based on volatility indexes that combine COMEX's options market data on CME Globex for gold with the Chicago Board Options Exchange (CBOE) Volatility Index (VIX) methodology. The Gold VIX will be a 60-day forward-looking index value on option implied volatility. It will be listed with COMEX, and subject to, the rules and regulations of COMEX and Chicago Mercantile Exchange Inc.

 Read Special Executive Report 5410

For more information, please contact Robert Biolsi at (212) 299-2610.

Seminar: Where Are Gold Prices Going?

Date: Tuesday, November 2, 2010
Time: 2:00pm CT
Location: Online Only
Speaker: David Hightower, President Hightower Report

In the past, the gold market was a repository of risk, but in the current environment risk seems to be emanating from an ever widening circle of political, economic and monetary sources and therefore it is no surprise that gold remains in vogue and is heavily featured in the headlines. Mr. Hightower will attempt to put today's historic gold prices in a context that will stretch across many market sectors and in turn will highlight gold's transition from a sleepy physical commodity, back into one of the world's most important financial vehicles.