CME said that by increasing the cap on the use of gold, it aims to help traders “manage their risk, while allowing them to take advantage of increasingly attractive gold lease rates.”
The new limit will initially just apply for members of the exchange’s U.S. clearing house, which has allowed firms to post up to $200 million worth of gold as performance bond collateral since late 2009. However, managing director of metal products Harriet Hunnable said the exchange is working on similar arrangements for its European clearing division, and expects this to be in place well before the end of the year.
“We have had a number of clients asking us to raise the collateral level above $200 million,” she told Dow Jones Newswires in an interview Monday. “There is a lot of gold activity at the moment, and this form of collateral is highly attractive for bullion banks.”
aumentan el limite de operatoria como colateral del oro
