CME Group to Expand Gold, Silver and Copper Short-Term Options Expiries

Rhea-AI Summary

CME Group (CME) to Expand Gold, Silver, and Copper Short-Term Options Expiries

Positive

• Expansion of suite of short-term metals options to include Tuesday and Thursday expiries for Gold, Silver, and Copper
• Client demand for weekly options to hedge immediate exposure around key economic indicators
• New Weekly contracts to begin trading on January 22, 2024, providing maximum flexibility for clients
• Recent volume highlights demonstrate significant growth in Gold, Silver, and Copper Weekly options
• CME Group is the world's leading derivatives marketplace, offering a wide range of global benchmark products

Negative

• None.

CHICAGO, Dec. 19, 2023 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that it will expand its suite of short-term metals options to include Tuesday and Thursday expiries for Gold, Silver, and Copper, pending regulatory review. With the addition of these new Weekly contracts, scheduled to begin trading on January 22, 2024, option expiries will now be available every day of the business week, Monday through Friday.

"Increasingly, our clients are turning to our suite of weekly options to hedge their immediate exposure around the release of key economic indicators, including CPI, Fed meetings and unemployment reports," said Jin Hennig, Managing Director and Global Head of Metals at CME Group. "With an expiration now available on every day of the trading week, clients have maximum flexibility to fine tune their portfolios with precision and manage macroeconomic risk as it unfolds." 

In May 2023, CME Group launched Monday and Wednesday expiries on Weekly Gold, Silver and Copper Weekly options. Recent volume highlights demonstrate the growth of those contracts: 

• Single day volume record of 49,000 Gold Weekly options traded on December 4.
• Copper Weekly options average daily volume (ADV) is up 270% year-to-date.
• Silver Weekly options ADV increased 77% year-to-date.
• 25% of Silver, Copper and Gold Weekly options volume now occurs during non-U.S. trading hours.

Gold, Silver and Copper Weekly options are listed by and subject to the rules of COMEX. For more information on Weekly options, please visit here.

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec and EBS are trademarks of BrokerTec Europe LTD and EBS Group LTD, respectively. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.

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SOURCE CME Group

FAQ

What are the new options expiries being added by CME Group for Gold, Silver, and Copper?

CME Group is expanding its suite of short-term metals options to include Tuesday and Thursday expiries for Gold, Silver, and Copper.

When will the new Weekly contracts for Gold, Silver, and Copper begin trading?

The new Weekly contracts are scheduled to begin trading on January 22, 2024, providing maximum flexibility for clients.

What are the recent volume highlights for Gold, Silver, and Copper Weekly options?

Recent volume highlights demonstrate significant growth in Gold, Silver, and Copper Weekly options, with record volume for Gold Weekly options and substantial increases for Copper and Silver Weekly options.

What does CME Group offer as the world's leading derivatives marketplace?

CME Group enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data, empowering market participants worldwide to efficiently manage risk and capture opportunities.

What are the trademarks associated with CME Group and its exchanges?

CME Group, Chicago Mercantile Exchange, Globex, E-mini, CBOT, Chicago Board of Trade, NYMEX, New York Mercantile Exchange, ClearPort, BrokerTec, EBS, and S&P 500 Index are among the trademarks associated with CME Group and its exchanges.