CBOT Sets New Electronic Gold Futures Record

The Chicago Board of Trade (CBOT) announced on September 12 that its full-sized (100 oz.) Gold futures contract achieved a new volume record of 69,432 contracts at close of trading, surpassing the previous record of 63,471 contracts set on July 17, 2006. In addition, August marked the first month that the CBOT averaged greater than 50 percent share of the North American listed Gold futures market. For the month, CBOT Gold futures had 53 percent market share of listed Gold futures traded in North America. Clearly, CBOT is capturing share from the COMEX division of the New York Mercantile Exchange, which is stubbornly clinging to open-outcry trading.

For those of you want the transparency, speed, and accuracy of electronic Gold futures trading -- and you're tired of waiting for the COMEX membership to wake up to the 21st century and offer electronic trading -- we recommend that you consider switching your trading volume to the CBOT's all-electronic Gold futures contract.

CBOT electronic Gold trades continuously from 6:16 PM until 4:00 PM CT, Sunday through Friday. The contract calls for 100 ounces of refined gold, assaying not less than .995 fineness, cast either in one bar or in three one-kilogram bars. The price is quoted in dollars and cents per troy ounce, and the minimum tick is $.10 per troy ounce, worth $10 per contract. The lead month at the present time is December, 2006, and the symbol on the XPRESSTRADE system is ZGZ06.