Also beginning on March 3, the exchange will expand the trading hours of its mini-sized Gold and Silver futures contracts. The market will continue to open at 8:15 p.m. (Chicago Time) and trade continuously into the next day with a new closing time of 4:00 p.m. (Chicago Time). Currently, trading in mini-sized Gold and Silver closes at 1:45 p.m. (Chicago Time).
CBOT Chairman Nickolas J. Neubauer said, "It is evident by our volume numbers that during times of economic uncertainty, including the prospect of a war, investors turn their attention to alternative investments such as the safe haven of the precious metal markets. By waiving these fees, extending trading hours, and increasing liquidity, we are making our metals complex even more attractive for those seeking to manage their price risk.
"Trading volume and open interest in the CBOT mini-sized metals contracts has increased significantly recently. With the current volatility in the gold markets, CBOT's mini-sized Gold futures have already set nine new volume records since January 1, 2003, with open interest reaching nearly 2,000 contracts." The key benefits to trading CBOT's mini-sized Gold and Silver contracts exclusively on the exchange's electronic trading platform include prompt, efficient trade execution, price transparency and continuous two-sided markets provided by a market maker. Moreover, CBOT metal contracts have proved attractive to market participants because of the clearing guarantee provided by the AAA-rated Board of Trade Clearing Corporation, a feature not available at other exchanges.
For more information on CBOT mini-sized Gold and Silver futures contracts, including the new fee waiver and trading hours, please visit www.cbot.com/metals.
