EXCHANGES - Comex copper sets another open interest record

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Tom Jennemanntom.jennemann@fastmarkets.comSenior North American Correspondent973-204-3383

Winter Park, Florida 25/05/2016 - The CME Group announced that its Comex copper contract hit an open interest record of 211,069 lots on Monday, which marks the tenth OI record of 2016.

Formally launched in 1988, Comex copper is one of the best-established contracts traded on the CME but until fairly recently it was mainly focused on North America. But over the past year the contract has seen strong growth - open interest (OI) and volumes were up 12 percent and 16 percent in 2015.

And the momentum has continued through the first quarter of 2016, with average daily volumes up 13 percent compared with the first quarter in 2015.

This has mainly been accomplished by aggressively growing volumes and market share in the copper sector via a push into Asia, where volumes were up 29 percent year-on-year in March.

CME's global copper market share increased to 17 percent in 2015 from 15 percent in 2014, according to CME data compiled by FastMarkets.



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