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CBOT gold margins were reduced to $2025 this week, from around $2300
before - while NYMEX/COMEX remains at $2700. Now GC's been running close to
80% of the e-gold mkt lately. Today, it was around 37% of the Aug contract,
and 45% of Dec. Yes ALMOST EQUAL in a couple of days time. ZG open interest
is still tiny compared with GC though.
One would think that NYMEX would have negotiated a non-compete provision as
part of their globex deal - but given the CBOT margin move, I guess not.
Anyone have any insight on this? Personally, I would gladly trade the added
margin $$ for less stop runs.
Chris
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