The Precious Metals Complex, consisting of full-size Gold and Silver futures contracts, mini-sized Gold futures contracts and CBOT mini-sized Silver (1,000 oz.) futures contracts, has achieved steady growth by drawing new participants to the marketplace attracted to the more efficient and deep liquid markets. Volume highlights include:
In September 2005, the CBOT’s 100 oz Gold futures monthly volume grew to 70,419 contracts traded, pushing the entire Gold complex volume to a monthly trading record of 132,370 contracts.
- The Average Daily Volume (ADV) in September 2005 for 100 oz. Gold increased 93.4 percent from the previous month to 3,353 contracts per day.
- Total volume in 100 oz. Gold increased 67 percent in Q3 over Q2.
- A record of 12.2 percent of the total US exchange-traded monthly volume in Gold was achieved on September 21. The CBOT’s 100 oz. Gold 30-day moving average market share of US exchange-traded volume has more than doubled to 4.5 percent since March 2005.
- Mini-sized Gold futures volume for September averaged 1,903 contracts per day, up 39.4 percent from the same period last year and up 78.2 percent from last month.
Robert Ray, CBOT Senior Vice President of Business Development, said, “The CBOT’s Precious Metals complex continues to demonstrate its value to the marketplace through its liquidity and transparency that comes with offering these contracts electronically. We are pleased with the complex’s volume and open interest growth and the market’s response, and attribute this to our customer’s appreciation for instant trade matching, straight-through processing, spread advantages and around-the-clock access that the electronic platform offers. Our current volumes, liquidity and open interest are attracting new participants to the market where trading in metals on other venues did not fit their trading style or option requirements.”
The CBOT Precious Metals futures contracts are physically delivered with delivery points in Chicago, New York and other locations designated by the Exchange. Current trading hours for CBOT full-sized Precious Metals contracts run from 7:16 p.m. to 4:00 p.m. CST, Sunday through Friday. As of October 9, the new trading hours will change to 6:16 p.m. to 4:00 p.m. CST.
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. For more than 157 years now, 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 web site at www.cbot.com