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Comex plans to get in on Asian gold trade, Reuters says

Section: Daily Dispatches

CME Plans to Launch Physically Settled Asia Gold Futures, Sources Say

By A. Ananthalakshmi and Frank Tang
Reuters
Thursday, April 24, 2014

CME Group Inc. plans to launch a physically deliverable gold futures contract in Asia, three sources familiar with the matter said, as the world's No.1 futures exchange targets rising hedging and investor demand in the top gold-consuming region.

An Asian contract from CME could help set a pricing reference for gold futures in Asia, much like its U.S. Comex gold contract sets the benchmark for bullion futures globally.

The move may also help CME boost flagging revenues from its precious metals futures and comes as its rivals are expanding their presence in Asia to tap demand from China, the world's biggest consumer of commodities, including gold. ...

... For the full story:

http://www.reuters.com/article/2014/04/24/cme-gold-asia-idUSL3N0NF2D3201...



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