Intercontinental Exchange (ICE) launched new futures contracts for gold, silver, platinum, and palladium in London. London is the world's largest market for physical bullion trading. This move introduces exchange-traded derivatives to the financial center. London has lacked a major gold futures market in recent years.
The new daily contracts feature durations of up to six months. They link to the daily physical auctions ICE already administers. This provides participants in London's vast over-the-counter market a new, exchange-based way to trade and hedge precious metals prices.