CBOT to Launch Silver Options June 12, 2006

Discussion in 'Events' started by CBOT, May 24, 2006.

  1. CBOT


    For Immediate Release

    Media Contact:
    Jennifer Rook

    CBOT Expands Silver Complex and Launches Full-Sized Silver Futures Options
    --Exchange Names Two Market Makers --

    CHICAGO, May 24, 2006 – The Chicago Board of Trade (CBOT®) announced today it will expand its Silver Complex by launching a new options contract on its CBOT Full-sized (5,000 oz.) Silver futures contract. The new contract will trade exclusively on the Exchange’s premier electronic platform from 6:16 p.m. to 4:00 p.m. (CST) and is scheduled to begin trading on Monday, June 12, under the ticker symbol of OZI.

    The Exchange also announced that Wolverine Trading, L.P. and Consolidated Trading, LLC have agreed to serve as electronic market makers for Silver options. These firms will provide two-sided markets for the new contract during daytime hours.

    CBOT Senior Vice President of Business Development Robert D. Ray said, “The market’s acceptance of our 100 percent electronically traded Precious Metals complex continues to pay dividends in the form of liquidity and record levels of volume and open interest. Market users are consistently turning to the CBOT Metals complex for price discovery and transparency. With strong customer demand for the CBOT to list options on our Full-sized Silver futures contract, we expect the contract to be well received, especially with the inclusion of Wolverine and Consolidated as market makers.”

    The CBOT’s Precious Metals complex consists of Full-sized (100 oz.) Gold futures, mini-sized (33.2 oz.) Gold futures, Full-sized Gold options, Full-sized Silver futures and mini-sized (1,000 oz.) Silver futures contracts, and now Full-sized Silver options. The entire product group has enjoyed significant success since the CBOT launched its electronic Precious Metals complex in October 2004. Silver futures volume increased two-fold between March and April, and open interest also increased 46 percent.

    The CBOT’s Gold complex continues to experience considerable success and as of April 2006 represents nearly 40 percent of all Gold futures traded in North America.

    Market users can access real-time bids and offers for the most actively traded silver strikes for free on www.cbot.com/metals. Call a CBOT product manager at 312.341.7955 for additional information.