CME to offer PGM, copper options in New York gold, silver pits

* Move to be effective April 1

* Traders expect more interest in PGM, copper options

NEW YORK, March 27 (Reuters) - U.S. derivatives exchange CME Group Inc said on Wednesday it will make platinum, palladium and copper floor-traded options accessible to its gold and silver option pits in a bid to boost floor trading volume in New York.

The change will be effective April 1, CME Group said in a statement.

Gold and silver options are currently by far the most popular metal options on the CME Group trading floor located in downtown New York.

Floor traders said that making platinum group metals (PGMs) and copper options available at the gold and silver pits will increase overall trading volume due to growing interest in PGMs and copper amid an improving U.S. economic outlook.

CME's move came a month after it added platinum and palladium options onto its Globex electronic platform in response to rising interest.

CME now offers platinum and palladium options trading on its New York Mercantile Exchange floor and for clearing through its own over-the-counter clearing system known as ClearPort.

But traders said there are currently too few market makers and not enough pit trading to make it worthwhile.

(Reporting by Frank Tang; Editing by Marguerita Choy)

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Keywords: CME METALS/OPTIONS