CME Group Launches Round-the-Clock Trading in 100-Ounce Silver Futures
CME Group has announced that it will introduce round-the-clock trading in its 100-Ounce Silver futures contract starting from September. This move follows strong demand for its retail-focused precious metals products and the record debut of its gold contract.
Since 24x7 trading began in 1-ounce Gold futures on July 24, over 53,000 contracts worth around $219 million have traded during expanded weekend sessions. The exchange operator claims that its 1-ounce Gold contract represents the largest liquidity pool for weekend gold futures trading.
The 100-Ounce Silver futures contract was launched in February and has seen an average daily volume of 17,800 contracts in the first half of the year. CME's metals business posted a record average daily volume of 1.3 million contracts in the first half of the year, up 55% from a year earlier.
The September launch of round-the-clock silver futures trading remains subject to regulatory review.