CME Group metals products

From MarketsWiki
Jump to: navigation, search

With the acquisition of NYMEX in August 2008, CME Group inherited an active precious and industrial metals product complex, which includes:

PHYSICALLY SETTLED CONTRACTS

CASH SETTLED CONTRACTS


With the acquisition of the Chicago Board of Trade in the summer of 2007, CME Group inherited the CBOT's less-active metals complex (100-oz. gold, 5,000-oz. silver, Mini-sized gold and silver) which continued to trade on the e-cbot platform versus CME Globex, into Q2 2008.[1] However, in 2008 CME Group unloaded its CBOT gold and silver futures to NYSE Liffe. [2]

On March 5th, 2010, COMEX, part of CME Group, delisted contracts months of E-mini Gold Futures (33 Troy Ounces; code 8Q) and E-mini Silver Futures (1,000 Troy Ounces; code 6Q). [3]

On May 8th, 2010, CME delisted thirteen contracts traded in COMEX, including Asian Gold futures (QS), Asian Platinum futures (QR) and Asian Palladium futures (QR).[4]

CME announced in April 2013 that it would list its iron ore futures contracts on its electronic platform starting in May, in an attempt to compete mor successfully against the Singapore Exchange.[5]

On October 31, 2017, CME announced it would introduce a new Copper Premium Grade A CIF Shanghai (Metal Bulletin) futures contract to begin trading on November 20, 2017, to be listed on COMEX. The contract will enable traders to hedge their exposure to the China copper premium. The exchange hopes it will become a reference price for copper traded in or delivered to China. The contract will be 25 metric tons and will be financially settled against the Metal Bulletin Copper Grade A Cathode CIF Shanghai assessment of copper spot price transactions in China.[6]

References

  1. "Moving from e-cbot to CME Globex – Product Migration; What You Need to Know: Quick Reference for Traders,” 1/7/08. CME Group.
  2. "CME adds political muscle to NYMEX bid; Illinois, N.Y. senators back revised $9.4 billion plan as scrutiny looms,” 3/18/08. Chicago Tribune.
  3. Notification of Delisting of Contract Months for E-mini Gold Futures and E-mini Silver Futures Contracts on CME Globex®. CME Group.
  4. Notification of Delisting of Thirteen NYMEX and COMEX Contracts. CME Group.
  5. CME to list iron ore futures on electronic trading platform. Reuters.
  6. CME Group Expands Base Metals Offering with New Copper Premium Shanghai (Metal Bulletin) Futures Contract. CME Group.