The Chicago Board of Trade (CBOT®) announced today that its Full-sized (100 oz.) Gold futures contract achieved a new volume record of 69,432 contracts at close of trading yesterday, surpassing the previous record of 63,471 contracts set on July 17, 2006.
August marked the first month that the Exchange averaged greater than 50 percent share of the North American listed Gold futures market. For the month, CBOT Gold futures had 53 percent market share of listed Gold futures traded in North America. The CBOT also expanded the hours of Transitory Exchange for Physical (EFPs) in its Full-sized Gold and Silver futures contracts to a 24-hour schedule last month. This provides all physical gold and silver traders with the opportunity to swap into a CBOT metals futures position at any time of day, creating a more flexible and efficient trading and operational environment.
The CBOT also plans to launch a new directed fungibility program between the Full-sized and mini-sized Metals contracts in the third quarter of 2006. Directed fungibility enables market participants to request, through their clearing firm, the offset of opposite positions in the Full and mini-sized contracts. This program will create an efficient mechanism for market participants to net out their exposures before the contract expiration.
The CBOT Precious Metals complex consists of Full-sized (100 oz.) Gold futures and options contracts, mini-sized (33 oz.) Gold futures contracts, Full-sized (5,000 oz.) Silver futures and options contracts and mini-sized (1,000 oz.) Silver futures contracts. These products are available for trading 22 hours per day on the e-cbot® electronic trading platform. For more information about the CBOT Precious Metals Complex please visit the Exchange’s web site at www.cbot.com/metals.
About the CBOT
As one of the leading global derivative exchanges, the Chicago Board of Trade provides a diverse mix of financial, equity and commodity futures and options-on-futures products. Building on its 158-year history, the CBOT continues to advance into the future using the strength of deep liquidity, market integrity and member-trader expertise. Using superior trading technology in both electronic and open-auction trading platforms, the CBOT provides premier customer service to risk managers and investors worldwide. For more information, visit our website at www.cbot.com.
