You are here
'Speed bump' coming to gold and silver futures on ICE exchange
First 'Speed Bump' Coming to U.S. Futures Market
By Alexander Osipovich
The Wall Street Journal
Wednesday, May 15, 2019
A futures exchange is set to blunt the advantages of ultrafast traders by imposing a split-second delay on some trades.
Intercontinental Exchange Inc., known as ICE, can launch the first "speed bump" in U.S. futures markets after the Commodity Futures Trading Commission didn't block the proposal.
... Dispatch continues below ...
We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth
With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.
Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.
Crucial guides to storage in Singapore and Switzerland can be read here:
http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore
http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland
GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.
Email the GoldCore team at info@goldcore.com or call our trading desk:
UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.
Visit us at: http://www.goldcore.com
But two of the CFTC's five commissioners disagreed with the decision, saying ICE's speed bump would unfairly punish firms that focused on speedy trading strategies.
Some of the world's largest high-frequency trading firms had opposed the plan, under which ICE would introduce a three-millisecond pause before it executes certain trades in its Gold Daily and Silver Daily futures contracts.
Trading volumes in the two contracts are tiny, with most activity in gold and silver futures taking place at rival exchange CME Group Inc. But traders had been closely watching the CFTC's decision because of the potential precedent it could set.
Under CFTC rules, the agency had the ability to block the proposal within a 90-day period that ended Tuesday. It took no action, meaning ICE is free to introduce its speed bump. ...
... For the remainder of the report:
https://www.wsj.com/articles/first-speed-bump-coming-to-u-s-futures-mark...
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit: