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Friday, 21st May 2004 (4644 views)

The Chicago Board of Trade (CBOT) has announced plans to start electronically traded gold futures contracts.<BR/><BR/>This could create a challenge for the New York Mercantile Exchange's global leadership of precious metals trading, according to the Financial Times.<BR/><BR/>One exchange source explained: "These contracts will be fully electronic and for the first time in the metals market you have the ability to trade them electronically and have all the advantages of straight-through processing."<BR/><BR/>Already the second largest US futures exchange, mini-sized gold futures contracts for retail investors are offered already through an electronic system.<BR/><BR/>At present considerable demand is occurring in the US for such products from mutual funds, risk managers and hedge funds.<BR/><BR/>The new contracts would be added on the same system during the autumn.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=2670793"/>

 

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