Intercontinental Exchange Inc. has introduced new gold futures contracts in London, marking a significant move in the city’s over-the-counter-dominated precious metals market. The US-based exchange operator began offering daily 100-ounce gold futures this week, designed to align with the large-format bars that support spot trading in the region. Alongside gold, the exchange has also launched daily futures for silver, platinum, and palladium.
The launch comes as ICE seeks to expand trading in a market traditionally controlled by a few global banks. By introducing these contracts, the exchange aims to provide more structured and standardized options for traders in London’s precious metals market.
The new gold futures contracts are tailored to match the size of the bars commonly traded in London’s spot market, potentially offering greater liquidity and efficiency for participants. The move reflects a broader trend of exchanges looking to tap into the lucrative precious metals trading space, which has long relied on bespoke over-the-counter deals.