CME Extends Round-the-Clock Trading to Silver Futures
CME Group has announced plans to extend round-the-clock trading for its 100-Ounce Silver futures contract from September. This move comes after the exchange operator saw strong demand for its retail-focused precious metals products, particularly following gold's record debut.
Since launching 24/7 trading for 1-Ounce Gold futures on July 24, over 53,000 contracts have traded during expanded weekend sessions, representing about $219 million in notional value. This is the largest liquidity pool for weekend trading in gold futures, according to CME.
The company's metal business set a record in the first half of the year, with an average daily volume of 1.3 million contracts, up 55% from the previous year. The growth was largely driven by precious metals trading, which saw a record $50 billion average notional traded each day across CME Group's silver futures.