[Ed. note: Well, this should make it a little easier for JPMorgan and friends to manipulate the price of silver. Half as many contracts, twice as much fun!!]
CME’s new product is set to compete with NYSE Liffe’s existing 1,000-ounce mini silver futures contract, which has generated interest among participants.
by Geoff Candy, MineWeb.com
CME Group Inc said on Thursday it will launch a 1,000-ounce silver futures contract, set to begin trading in June, in a bid to boost trading volume in the precious metal.
CME Group’s new product is set to compete with NYSE Liffe’s existing 1,000-ounce mini silver futures contract, which has generated interest among participants who prefer to trade smaller silver futures.
The Chicago-based exchange operator is offering the new silver product in response to customer demand, Robert Ray, CME Group’s managing director overseeing the Europe, Middle East and Africa (EMEA) region, said in a statement.
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