http://www.mondovisione.com/index.cfm?section=news&action=detail&id=80463 Eurex, the international derivatives exchange, today launched its new futures and options on gold. The US dollar denominated contracts are based on the benchmark gold fixing of the London Bullion Market Association, referenced to the largest gold spot market in the world. Trading hours are between 8 am and 10 pm CET. To support the product launch, Eurex is waiving trading and clearing fees until the end of June 2009. From day one, market makers have agreed to ensure a liquid order book. Further, the U.S. regulatory agency, the Commodity Futures Trading Commission (CFTC), has approved trading in the new gold contract for the U.S. market effective immediately giving U.S. based customers the opportunity to trade the new gold offering.
That'll never take off.Eurex should try and fix the contracts they've ruined before opening rival contracts that they don't need to.