just a curiosity more than anything but lets say someone did own a large quantity of a certain commodity would they be able to trade that commodity in a physical trade on their own without the use of a broker for instance if you had a large amount of gold would you be able to register it and then sell the contract on an exchange with just an online brokerage account if you had the ability to deliver the physical asset. Another question would be whether people who own physical gold would be able to sell options on that gold if they had enough to satisfy atleast one futures contract.