NYSE Euronext is setting up a US-based futures exchange for its newly acquired gold and silver futures complex and could launch by the end of the summer, FO Week has learned.
NYSE Euronext bought the precious metals complex from CME Group in March and is planning to transition the contracts over once it completes its application with Commodity Futures Trading Commission (CFTC) for Designated Contract Market (DCM) status.
While no timetables have been set, sources said that NYSE Euronext hopes to get DCM approval over the next several months, at which point the exchange will take full ownership of the gold and silver complex from CME Group. CFTC said NYSE Euronext has not yet filed its application. NYSE Euronext’s push into the US...