Senior vice-president of business development, Robert Ray, said the exchange could not predict how long development would take, but hoped to enter the market as quickly as possible. Ray refused to give details of the underlying index on which the derivatives would be based.
CBOT will also make its full-sized gold and silver options available by open-auction next month. The 100oz gold and 5,000oz silver contracts are currently only accessible online through e-cbot. Simultaneously, CBOT will waive transaction fees on all metal options trades until July 2007.