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Commodity Derviatives Quarterly Report and Editorial
in Q1, JPM cornered the commodity derivative market, with a total derivative exposure of just over of $4 trillion, an increase ot 1,691% from just $226 billion in one quarter!
What we don't know is:
why did the OCC decide to effectively eliminate its gold derivative breakdown by lumping it with FX, why there was a 237% increase in the total amount of precious metals (which include gold) contracts in the quarter, from $22.4 billion to $75.6 billion
We have sent an email requesting much needed clarification from the Office of the Currency Comptroller, although we are not holding our breath."
