CME Group to launch options on Micro Gold futures
International derivatives marketplace CME Group will launch options on Micro Gold futures on October 2, 2023, pending regulatory review.
“A wide range of investors believe gold to be a safe-haven asset, especially in periods of volatility and economic and geopolitical uncertainty,” said Jin Chang Hennig, Managing Director and Global Head of Metals at CME Group. “Growing demand has driven a spike in CME Group gold markets, with average daily volume in Micro Gold futures increasing 40% from last year and retail participation in our benchmark Gold futures contract up 17% year-over-year. By expanding our offerings to include the new Micro Gold options, traders of all sizes will have even more flexibility to express a view on gold.”
CME Group’s smaller-sized Gold and Silver futures contracts launched over a decade ago and have seen a significant uptick in participation over the last five years:
- Micro Gold futures volume has grown an average of 58% each year.
- Micro Silver futures volume has grown an average of 93% each year.
- Average daily open interest (ADOI) in Micro Gold futures has grown an average of 20% each year.
- Micro Silver futures ADOI has grown an average of 36% each year.
“30% of trading volume in our gold markets now occurs during non-U.S. trading hours,” added Hennig. “With strong interest from the Asia Pacific (APAC) region, our Micro Gold futures volume has increased 34% from last year. This speaks to the global appeal of our markets and the progress we have made in making them more accessible and efficient for a diverse range of participants.”
Options on Micro Gold futures will be listed by and subject to the rules of COMEX.