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CME to Start London Gold Contract in Challenge to ICE, LME

  • Gold, silver spot contracts to list on Comex in January
  • ICE to start contracts in February, LME in first half of 2017
Updated on

CME Group Inc. will start London gold and silver contracts in January to offer a spread between spot prices and benchmark U.S. futures, competing with similar planned contracts from Intercontinental Exchange Inc. and the London Metal Exchange.

CME’s new contracts will be listed on Comex in New York and begin trading on Jan. 9, pending a regulatory review, the world’s largest futures exchange told reporters at a briefing in London on Tuesday. The spread will be based on the new spot contracts and active Comex futures, it said.