Tocom gold options launched

24 May 2004

Gold options launched on Tokyo Commodity Exchange (Tocom) last week saw 3,100 lots (equivalent to 3.1 tonnes) traded in day one. In comparison, the exchange's gold futures...

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“A lot of banks have spent a lot of money calculating the cheapest way to collateralise their positions, and they’ve hired some very bright mathematicians to do it. Why would they gamble all of that by using the cheapest clearing house?”

Senior rates players believe fears of a race to the bottom among clearing houses has been overstated.