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The Chicago Board of Trade (CBOT®) announced today that open interest in its Full-Sized Gold (100 oz.) futures contract reached a new high mark yesterday, surpassing 50,000 contracts for the first time. The new open interest record, 50,956 contracts, topped the previous record of 48,914 contracts set on October 30, 2006. Additionally on Wednesday, CBOT Full-sized Gold futures reached the second highest volume total on record, as 66,866 contracts were traded.
The Exchange also set records on Wednesday for total Metals complex open interest and mini-sized (33 oz.) Gold futures open interest. The new Metals complex open interest record, 74,098 contracts, surpasses the previous record of 71,381 contracts set on October 30, 2006. The new mini-sized Gold futures open interest record now stands at 9,915 contracts – the preceding record, 9,059 contracts, was set on May 15, 2006.
CBOT Senior Vice President of Business Development Robert D. Ray said, “These open interest records are another indicator that commercial traders continue to embrace the CBOT Metals contracts. The Exchange will continue to add value for its market participants as we work to further improve operational controls that reduce the systemic risk inherent in manual delivery processes. The upcoming launch of our electronic vault delivery system, developed in close collaboration with commercial trading firms and the banking industry, is another example of the CBOT’s commitment to bring innovative tools to market.”
Since their launch in October 2004, CBOT Metals futures contracts continue to attract new market participants and achieve greater volume. For the month of October, the Exchange’s Gold futures complex, which includes Full-sized (100 oz.) and mini-sized Gold futures contracts, accounted for nearly 60 percent of the trading volume of all Gold futures contracts listed in North America. CBOT Full-sized Gold futures contracts captured 54 percent market share of all Gold futures listed in North America for the same time period.
Beginning on November 6, the CBOT will offer its options on Full-sized Gold and Silver futures contracts via open auction, “side-by-side” with the Exchange’s electronic trading platform. Market makers will be in place on the first day of trading. Side-by-side trading will be conducted from 7:10 a.m. to 1:30 p.m. CST, Monday through Friday.
On October 1, 2006, the CBOT waived all Exchange transaction fees for Metals options trading across all fee categories. The fee waiver will apply to Metals options transactions on both CBOT platforms and will remain in effect until June 30, 2007. The waiver does not apply to clearing fees.
The CBOT’s Metals complex consists of Full-sized Gold (100 oz.) futures and options contracts, mini-sized Gold (33 oz.) futures contracts, Full-sized Silver (5,000 oz.) futures and options contracts, and mini-sized Silver (1,000 oz.) futures contracts. To view the live book of bids, offers and quantities, or to obtain more information about the CBOT 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.
