CME GROUP - NEW DATE FOR CLEARING OF OTC LONDON GOLD FORWARD CONTRACTS
Due to the integration of COMEX products on to the CME Clearing Platform on Monday 14 September 2009, the new launch date for Clearing OTC London Gold Forwards will be 20 September 2009 for trade date 21 September 2009 for house business. Customer segregated activity will follow within 90 days of launch.
For more information, please go to:-
http://www.cmegroup.com/trading/metals/cleared-otc-london-gold-forwards.html
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LME - UPDATES DRAFT MINOR METAL CONTRACT SPECIFICATIONS
The London Metal Exchange recently updated its specifications for its Cobalt and Roasted Molybdenum Concentrate (RMC) Contracts which are to be launched on 22 February 2010.
Cobalt
- Lot Size - 1 tonne (+/- 2%)
- Quality - 99.30% purity
- Impurities - determined by the specification supplied to the LME by the LME listed producer for its approved brand
- Product Form - Cathodes (broken or cut), rondelles, granules, rounds, briquettes or ingots
- Packing - steel drums (minimum 100Kgs - maximum 500Kgs)
- Supporting Documentation - Producer Certificate of Analysis and Packing List
Molybdenum
- Lot Size - 6 tonnes of molybdenum (+/-5%) contained in 10 tonnes (+/-5%) of RMC
- Quality - minimum 57% - maximum 63% purity
- Impurities - Copper 0.50% max., Phosphorous 0.05%, Sulphur 0.10%, Lead 0.05%, Carbon 0.10%
- Product Form - Powder
- Packing - steel drums (100Kgs, 200Kgs or 250Kgs)
- Supporting Documentation - Independent Certificate of Analysis, supplied by a LME approved Sampler and Assayer, and Certificate of Origin.
For more information, please go to:-
Cobalt -http://www.lme.com/downloads/contractspecs/Cobalt_02_Pt_6_Draft_Contract_300709.pdf
Molybdenum - http://www.lme.com/downloads/contractspecs/Moly_02_Pt_6_Draft_Contract_300709.pdf
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JSE - TO LIST GOLD, PLATINUM AND CRUDE OIL FUTURES IN SEPTEMBER
The Johannesburg Stock Exchange announced on 24 August 2009 that it had extended its existing licensing agreement with CME Group enabling South Africans to trade rand-denominated platinum, gold and crude oil futures contracts.
The new agreement enables the JSE to offer trade in futures contracts referencing benchmark gold settlement prices from CME Group's COMEX division and platinum and crude oil prices from its NYMEX division. As a result the JSE will list cash-settled futures contracts for platinum, gold and crude oil on the JSE's Commodities Derivatives Market in September 2009.
For more information, please go to:-
http://cmegroup.mediaroom.com/index.php?s=43&item=2906&pagetemplate=article
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LME - LISTS NEW GOOD DELIVERY POINT FOR STEEL
The LME announced on 24 July 2009, that its Board of Directors had approved, with effect from Friday, 4 September 2009, the listing of Rotterdam as a Good Delivery point for the Mediterranean Steel Billet Contract.
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