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There's no real metal behind Comex's new junior silver futures contract
The announcement cites "record retail demand" -- but demand for what? Silver or paper? Is Comex just trying to divert investors from real metal and back into its usual racket, empty derivatives?
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CME Group to Launch 100-Ounce Silver Futures to Meet Record Retail Demand
From CME Group, Chicago
Tuesday, January 13, 2026
CHICAGO -- CME Group, the world's leading derivatives marketplace, today announced it will launch a 100-ounce silver futures contract on February 9, 2026, pending regulatory review.
"Silver is increasingly appealing to retail traders looking to diversify their exposure across a wider range of metals in the face of geopolitical uncertainty and the energy transition," said Jin Hennig, managing director and global head of metals at CME Group. "Hundred-ounce silver futures will improve access to a wider range of participants, enabling them to benefit from the liquidity and efficiencies that our futures markets provide."
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"This new futures contract from CME Group supports our focus on building the best platform for active traders and offers customers a way to trade silver with less capital," said JB Mackenzie, VP and GM of futures and international at Robinhood Markets. "In line with our mission to democratize finance for all, this contract makes it easier to participate in the silver market and gives traders even greater flexibility."
"With silver in high demand, we are pleased that CME Group is expanding its smaller-sized offerings," said Isaac Cahana, CEO of Plus500US. "This new contract will make it easier than ever for our global customers to capture silver opportunities in a flexible, cost-effective way."
Growing retail demand for CME Group's metal futures drove record trading volumes in 2025. It was a record year for trading both Micro Gold futures (301K ADV) and Micro Silver futures (48K ADV). Clients also traded over 6 million contracts in the 1-ounce gold futures contract launched on January 13, 2025.
Hundred-ounce silver futures will be financially-settled based on the daily settlement price of the global benchmark silver futures contract and will be listed by and subject to the rules of Comex.
For more information, please visit:
https://www.cmegroup.com/100-oz-silver
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash, and OTC markets, optimize portfolios, and analyze data -- empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec, and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
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