Updated
Updated · Bloomberg · Jun 11CME Launches 24/7 Gold Futures July 26, Adds 1/10-Size Oil Contract Aug. 30
3 articles · Updated · Bloomberg · Jun 11Summary
- CME said 24/7 trading in its 1-ounce gold futures will start July 26, extending access to the existing contract around the clock, seven days a week.
- A new crude oil product will follow on Aug. 30: a cash-settled contract tied to WTI that is one-tenth the size of CME's current Micro WTI futures.
- The two products are still pending regulatory review and will be listed on COMEX for gold and NYMEX for oil.
- The move broadens nearly continuous access to two heavily traded commodities through smaller, more flexible futures offerings.
Insights
Will 'always-on' trading prevent price gaps, or just create new liquidity traps during off-peak hours? With 24/7 trading and 9-to-5 banking, what new systemic risks emerge for the global financial system?