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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 374.27

-0.2%

Nov 21 4:00 PM EST

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To: Haim R. Branisteanu who wrote (56650)	10/19/2009 7:50:52 PM
From: TobagoJack	Read Replies (3) of 218005

just in in-tray CME To Allow Gold As Collateral For All Exchange Products LONDON -(Dow Jones)- U.S.-based clearing house CME Group Inc. (CME) will allow physical gold to be used as collateral for margin requirements on all exchange products, a spokesman said Monday. The new global policy is effective Oct. 19 in accordance with a member's notice issued late Friday, said spokesman Jeremy Hughes in London. Clearing member firms will be allowed to post up to a maximum of $200 million worth of gold as collateral to cover performance bond, or margin, requirements, Hughes said. The policy was a byproduct of CME's recent launch of clearing services for over-the-counter London gold spot and forward contracts, he said. "Many of the houses hold quite a lot of physical gold and would welcome using it more efficiently," he said. The gold will be held at J.P. Morgan Chase & Co.'s (JPM) bank in London. nasdaq.com ... to which i responded, "gold, the true money, now approved as practical and useful wealth, just took a small step towards everyday use"

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