Q4 2019 Metals Update

  • 30 Sep 2019
  • By CME Group
  • Topics: Metals

Shanghai Gold futures contracts to launch October 14

  • CME Group will launch Shanghai Gold futures contracts on October 14 on COMEX, connecting global market participants to Chinese gold markets.
    View press release

  • Shanghai Gold (USD) futures and Shanghai Gold (CNH) futures are financially settled, based on the SGE Shanghai Gold Benchmark PM price.
    View contract specs
    Read the FAQ


  • In addition, on October 14, the SGE will launch new T+N contracts – NYAuTN, linked to COMEX Gold futures Asia Spot Prices.
    More on SGE Gold 

Growing global liquidity in Gold options

  • Metals options ADV from June to August was 116K; versus trailing 12-month ADV of 59K.
  • In 2019, 20% of Gold options volume has traded during Non-US hours vs. 10% in 2017.
  • ADV during London morning has grown to ~16,000 contracts.

Communicate directly with Aluminum market participants via CME Chat

  • CommodityDirect, a new messaging and market information tool available in CME Chat, provides a clearer view of Aluminum price and volume throughout the trading day. 
  • The platform enables you to communicate directly with other Aluminum market participants along the supply chain.

More on CommodityDirect

 

Data as of September 30, 2019, unless otherwise specified

CME Group Metals complex sees record volume in August

  • Record Metals overall average daily volume (ADV) of 885,064 eclipsed the previous record by 11%.
  • Gold ADV hit a record of 478,044 contracts, up 71% year-over-year.
  • Silver ADV of 156,003 for August was the second highest on record, up 39% YoY.

Metals

Products

Aug ADV

%YoY

Gold

Fut

435,557

+60%

 

Opt

109,540

+91%

Silver

Fut

140,102

+36%

 

Opt

15,901

+81%

Platinum

Fut

22,546

+26%

Micro Gold

Fut

40,446

+467%


COMEX Aluminum futures gain momentum

  • ADV in COMEX ALI grew to 147 contracts in August.
  • Open interest expanded to 350, vs 0 in July.
  • Inventory in CME-registered warehouses reached a high of 19,335 MT, up 250% vs August.
  • Recently modified to duty unpaid with global delivery points.
  • Compliments  suite of cash-settled Aluminum Premium contracts.
  • Serves as an additional point of liquidity for the global aluminum industry.

COMEX Gold warrants as collateral

  • Effective November 4 CME Clearing will permit clearing members to deposit COMEX gold warrants to meet Base and IRS performance bond requirements in the house origin.
  • CME Clearing will increase its gold collateral limit from $250 million to $750 million per clearing member (and affiliates), which will be inclusive of both London gold bullion and COMEX gold warrants.

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