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CME Group to start London gold contract in challenge to ICE, LME

Section: Daily Dispatches

Governments and central banks use CME Group exchanges for surreptitious trading of all major futures contracts in the United States:

http://www.gata.org/node/14385

http://www.gata.org/node/14411

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By Eddie Van Der Walt
Bloomberg News
Tuesday, November 1, 2016

CME Group Inc. will start London gold and silver contracts in January to offer a spread between spot prices and benchmark U.S. futures, competing with similar planned contracts from Intercontinental Exchange Inc. and the London Metal Exchange.

CME's new contracts will be listed on Comex in New York and begin trading on Jan. 9, pending a regulatory review, the world's largest futures exchange told reporters at a briefing in London on Tuesday. The spread will be based on the new spot contracts and active Comex futures, it said.

Exchanges are fighting for a share of London's $5 trillion-a-year gold market as scrutiny from regulators triggers a shake up of the city's over-the-counter trading. ICE said last month it will start a new contract for London and use it to clear its daily auction for the metal. Separately, the LME, World Gold Council, and several banks plan to introduce centrally cleared gold and silver contracts in the first half of next year. ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-11-01/cme-to-start-gold-silv...



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