CME Group to launch Micro Copper futures
International derivatives marketplace CME Group today announced that it will expand its suite of micro metals products with the launch of Micro Copper futures on May 2, 2022, pending regulatory review.
A micro-sized Copper contract will provide a variety of market participants – from institutions to sophisticated individual traders – with greater access to the transparency and liquidity of CME Group’s Copper markets at a time of heighted economic uncertainty. Micro Copper futures will be one-tenth the size of a standard sized Copper futures contract and will be cash settled.
“We are pleased to expand upon our Micro product offerings and introduce Micro Copper futures to global market participants,” said Jin Chang, Global Head of Metals at CME Group. “Our Micro Gold and Micro Silver products have been some of our fastest growing products, and we look forward to expanding the ways that traders can access the around the clock liquidity and price transparency that our metals markets offer.”
More than 1.4 billion contracts have traded across 20+ micro-sized products since their introduction in 2009, with average daily volume in the first quarter of 2022 reaching a combined record of 3.7 million contracts.