Friday, 21st May 2004 (3373 views)

The Chicago Board of Trade (CBOT) has announced plans to start electronically traded gold futures contracts.

This could create a challenge for the New York Mercantile Exchange's global leadership of precious metals trading, according to the Financial Times.

One exchange source explained: "These contracts will be fully electronic and for the first time in the metals market you have the ability to trade them electronically and have all the advantages of straight-through processing."

Already the second largest US futures exchange, mini-sized gold futures contracts for retail investors are offered already through an electronic system.

At present considerable demand is occurring in the US for such products from mutual funds, risk managers and hedge funds.

The new contracts would be added on the same system during the autumn.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.