CME Group to launch New E-mini gold and silver
CME Group Inc., the world's largest and most diverse derivatives exchange, on March 26 announced the E-mini® gold kilo and E-mini silver 1,000 ounce futures contracts, scheduled to begin trading on April 19 for trade date April 20. These contracts are listed with, and subject to, the rules and regulations of NYMEX. The products will be available only on the CME Globex® electronic trading platform.
"As CME Group continues to globalise its innovative product mix, the new E-mini gold and silver contracts will now allow a broader customer base, including institutional trading firms based in Asia, to hedge its risk in the precious metals markets," said Joe Raia, CME Group Managing Director of Energy and Metals Products and Services. "In addition, our customers continue to seek the security of CME Clearing and the capital efficiencies of cross-margining against our benchmark gold and silver futures contracts to manage their risk in these volatile economic times."
The E-mini gold kilo futures contract (commodity code 8Q) will be 33.2 troy ounces in size with a minimum price fluctuation of $0.10 per troy ounce. The E-mini silver 1,000 oz. futures contract (commodity code 6Q) will be 1,000 troy ounces with a minimum price fluctuation of $0.01 per troy ounce.
The first listed month will be May 2009 for both contracts. The E-mini gold kilo futures contract will trade the current calendar month, the next two calendar months, and every February, April, June, August, October, and December for a 23-month period from the current calendar month. The E-mini silver 1,000 oz. futures contract will trade the current calendar month, the next two calendar months, and every March, May, July, September, and December for a 23-month period from the current calendar month. The first month to be listed will be the May 2009 contract. The contracts will terminate on the third last business day of the contract month.
Source: CME group