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CME Group (CME) to Introduce Options on Micro Gold Futures
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CME Group Inc. (CME - Free Report) is set to expand its gold offerings by launching options on Micro Gold Futures. The launch will take place on Oct 2, after the completion of regulatory conditions.
The new options are expected to address customers’ demand for gold offerings as they consider it a safe investment in volatile times. The average daily volume in Micro Gold Futures increased 40% from the prior year due to rising demand for gold products. The retail participation in CME’s benchmark Gold Futures increased 17% year over year. The launch of Micro Gold Futures options should aid in expanding its offerings to capture a larger share of the market.
The options will enhance CME Group's diverse suite of more than 20 micro products, which have traded more than 1.2 billion contracts since their launch. It would offer a new, efficient, cost-effective way to express views on gold and enhance trading strategies.With this new launch, CME Group also aims to cater to the Asia-Pacific region, which has been showing strong interest in the gold market.
Based on the strength and liquidity of Micro Gold Futures, these options contracts enable market participants to efficiently hedge market-moving events with greater precision and flexibility. It enables traders of all sizes to access gold market exposure.
CME Group continues to focus on driving growth and customer acquisition by expanding, innovating and scaling its core offerings and increasing participation from non-U.S. customers. This is achieved by the expansion of its global sales team, cross-selling of products, expansion of the existing benchmark products, product and service launches, and deepening of open interest in core futures and options offerings.
CME Group’s exchange consists of designated contract markets for the trading of futures and options contracts. CME enables clients to trade futures, options, cash and over-the-counter markets and optimize portfolios. CME focuses on maximizing futures and options growth globally, diversifying business and revenues, and delivering unparalleled customer efficiencies and operational excellence.
Zacks Rank & Price Performance
Shares of this largest futures exchange in the world in terms of trading volume and notional value traded have rallied 6.1% in the past year compared with the industry’s growth of 3.8%.
Image Source: Zacks Investment Research
CME Group currently carries a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for Aegon’s current-year earnings indicates 42.1% year-over-year growth. In the past 30 days, AEG has witnessed one upward estimate revision against none in the opposite direction.
The Zacks Consensus Estimate for Trupanion’s current-year earnings has improved 9.2% in the past 60 days. It has witnessed four upward estimate revisions during this time against no movement in the opposite direction. Also, the consensus mark for TRUP’s revenues in 2023 suggests 19.5% year-over-year growth.
The consensus mark for Employers Holdings’ current-year earnings indicates a 14.3% year-over-year increase. It has witnessed one upward estimate revision in the past 60 days against no downward movement. Furthermore, the consensus estimate for EIG’s revenues in 2023 suggests 20.5% year-over-year growth.
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CME Group (CME) to Introduce Options on Micro Gold Futures
CME Group Inc. (CME - Free Report) is set to expand its gold offerings by launching options on Micro Gold Futures. The launch will take place on Oct 2, after the completion of regulatory conditions.
The new options are expected to address customers’ demand for gold offerings as they consider it a safe investment in volatile times. The average daily volume in Micro Gold Futures increased 40% from the prior year due to rising demand for gold products. The retail participation in CME’s benchmark Gold Futures increased 17% year over year. The launch of Micro Gold Futures options should aid in expanding its offerings to capture a larger share of the market.
The options will enhance CME Group's diverse suite of more than 20 micro products, which have traded more than 1.2 billion contracts since their launch. It would offer a new, efficient, cost-effective way to express views on gold and enhance trading strategies.With this new launch, CME Group also aims to cater to the Asia-Pacific region, which has been showing strong interest in the gold market.
Based on the strength and liquidity of Micro Gold Futures, these options contracts enable market participants to efficiently hedge market-moving events with greater precision and flexibility. It enables traders of all sizes to access gold market exposure.
CME Group continues to focus on driving growth and customer acquisition by expanding, innovating and scaling its core offerings and increasing participation from non-U.S. customers. This is achieved by the expansion of its global sales team, cross-selling of products, expansion of the existing benchmark products, product and service launches, and deepening of open interest in core futures and options offerings.
CME Group’s exchange consists of designated contract markets for the trading of futures and options contracts. CME enables clients to trade futures, options, cash and over-the-counter markets and optimize portfolios. CME focuses on maximizing futures and options growth globally, diversifying business and revenues, and delivering unparalleled customer efficiencies and operational excellence.
Zacks Rank & Price Performance
Shares of this largest futures exchange in the world in terms of trading volume and notional value traded have rallied 6.1% in the past year compared with the industry’s growth of 3.8%.
Image Source: Zacks Investment Research
CME Group currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked players in the broader Finance space include Aegon N.V. (AEG - Free Report) , Trupanion, Inc. (TRUP - Free Report) and Employers Holdings, Inc. (EIG - Free Report) . Each of these companies presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Aegon’s current-year earnings indicates 42.1% year-over-year growth. In the past 30 days, AEG has witnessed one upward estimate revision against none in the opposite direction.
The Zacks Consensus Estimate for Trupanion’s current-year earnings has improved 9.2% in the past 60 days. It has witnessed four upward estimate revisions during this time against no movement in the opposite direction. Also, the consensus mark for TRUP’s revenues in 2023 suggests 19.5% year-over-year growth.
The consensus mark for Employers Holdings’ current-year earnings indicates a 14.3% year-over-year increase. It has witnessed one upward estimate revision in the past 60 days against no downward movement. Furthermore, the consensus estimate for EIG’s revenues in 2023 suggests 20.5% year-over-year growth.