The Rosario Futures Exchange is to launch its own micro gold futures in November, hot on the heels of the Chicago Mercantile Exchange.
In an interview with FOi at the Swiss Futures and Options Association’s conference last week, the bourse’s chief operating officer, Ismael Caram, said the contracts had been approved by Argentina’s financial regulator last month. They will be cash-settled against closing prices from the London Bullion Market Association.
“We have a very tiny contract size – 3oz – aimed at the local market,” Caram said. “We call it a micro-contract. What we are trying to do is complete our product offering for retail investors.”
On a roll
Last month, the 101 year old bourse...