April 18, 2013
, the world's leading and most diverse derivatives marketplace, today announced the launch of a new physically delivered Silver (1,000 oz.) futures contract, scheduled to begin trading in
. This contract will be listed with, and subject to, the rules and regulations of COMEX.
"We're introducing our new 1,000-oz. silver futures contract in response to demand from our customers, who are increasingly looking for cost-effective ways to manage risk," said
, CME Group Managing Director EMEA. "The smaller size will provide market participants with greater flexibility to manage their silver price risk, and serve as a more cost-effective tool for individual investors or others looking to hedge against economic uncertainty. This is the first contract of its size that will be fully fungible and deliverable against our existing benchmark silver futures contract."
At one-fifth the size of the existing 5,000-oz.
futures contract, this new contract will be conveniently sized for market participants seeking to trade physical silver in smaller increments. It will be fully fungible with the full-sized Silver futures contract, which means that customers who accumulate five warehouse depository receipts of the 1,000-oz. contract can convert them into one 5,000-oz. Silver futures contract.
The addition of a deliverable, 1,000-oz. silver futures contract to the exchange's deep and liquid benchmark precious metals products is expected to provide new trading opportunities for market participants around the globe.
This contract will be available on the CME Globex electronic trading platform, for over-the-counter (OTC) clearing through CME ClearPort and open outcry on the trading floor in
, beginning with the
As the world's leading and most diverse derivatives marketplace, CME Group (
) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on
. CME Group brings buyers and sellers together through its
electronic trading platform and its trading facilities in
and Chicago. CME Group also operates
, one of the world's leading central counterparty clearing providers, which offers clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. CBOT and the
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, Inc. NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. KCBOT, KCBT and
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