- 27 Mar 2019
- By CME Group
- Topics: Metals
- Designed to provide capital and cost efficient risk management of copper exposures, HX average daily volume has grown from 100 contracts in 2016 to over 3,092 contracts in Q1, 2019.
- Set a daily volume record of 12,533 contracts on February 20.
- Open interest continues to build, hitting an all-time record of 67,510 on March 25.
- Liquidity continues to increase, as measured in both bid/ask spread and depth of book.
Liquidity Summary |
Currently |
Jan-Jun 17 |
|---|---|---|
Avg bid/ask in volatility |
0.50% |
3.00% |
Avg bid/ask in premium (US $/lb) |
0.0035 |
0.0180 |
Avg top of book quantity (lots) |
75-100 |
5-10 |
ADV |
3,092/day |
180/day |
Avg OI |
60,000+ |
4,000 |
Transparent Electronic Price Discovery for the Global Reference Price
- Additional TAS eligible months now available for trading in GC, SI, HG, PL and MGC contracts.
- New TAS Spread functionality enabled between all available TAS contract months.
- Gold TAS average daily volume of 3,362 contracts in January 2019 was a record, up nearly 300% YoY.
Circuit breaker levels will now be set as a percentage of dynamically established reference price instead of a static dollar figure.
Utilizes 60-minute look back periods to establish a dynamic price limit ranges.
Promotes continuous price discovery with less market disruption.
Flexibility Gold Weekly Options average daily volume has grown from 100 contracts in 2015 to over 3,000 contracts in Q1 2019.
Key Benefits
Flexibility to manage short-term volatility and risk.
Precision timing to target specific market movements or events.
More expirations (4 weeklies and 1 monthly); more options to limit exposure.
Shorter expirations to gain market exposure at a lower premium.
American style with automatic exercise.
Year |
ADV |
YoY |
|---|---|---|
2015 |
94 |
|
2016 |
237 |
152% |
2017 |
758 |
220% |
2018 |
2,113 |
179% |
2019 YTD |
3,083 |
46% |
Approximately 30% of HRC and nearly 50% of BUS volumes are now being traded electronically, ensuring transparency
HRC hit record average daily volume of 1,033 contracts in January, equivalent to $15m average per day in notional value
Download the Steel futures and blocks grid now for CME Direct from the Steel webpage.
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