WGC comment on new comex delivery metal “This new contract will provide customers with maximum flexibility in managing physical delivery,” said Derek Sammann, CME’s global head of commodity and options products.
It is not an immediate fix, said John Reade, chief market strategist at the World Gold Council.
“All the open interest at the moment is in the old contract. How long does it take to navigate from the old to the new? Months?,” he said. “It solves things potentially in the long term, but doesn’t do anything for the market now.”
CME Group did not immediately respond to a request for comment.
https://business.financialpost.com/pmn/business-pmn/cmes-new-contract-no-quick-fix-for-gold-market-turmoil-traders-say