CME Group Silver Futures Contract Specs

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CONTRACT UNIT	5,000 troy ounces
PRICE QUOTATION	U.S. dollars and cents per troy ounce
TRADING HOURS	CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT) TAS: Sunday - Friday 6:00 p.m. - 1:25 p.m. (5:00 p.m - 12:25 p.m. CT) TAM: Sunday - Friday 6:00 p.m. ET - 12:02 p.m. London time
TRADING HOURS	CME ClearPort: Sunday 5:00 p.m. - Friday 4:00 p.m. CT with no reporting Monday - Thursday from 4:00 p.m. - 5:00 p.m. CT
MINIMUM PRICE FLUCTUATION	Outright: 0.005 per troy ounce = $25.00 TAS/TAM: Zero or +/- 10 ticks in 0.001 increments
MINIMUM PRICE FLUCTUATION	CALENDAR SPREAD 0.001 per troy ounce = $5.00
PRODUCT CODE	CME Globex: SI CME ClearPort: SI Clearing: SI TAS: SIT
LISTED CONTRACTS	Monthly contracts listed for 3 consecutive months and any Jan, Mar, May, and Sep in the nearest 23 months and any Jul and Dec in the nearest 60 months
SETTLEMENT METHOD	Deliverable
TERMINATION OF TRADING	Trading terminates at 12:25 p.m. CT on the third last business day of the contract month.
TAM or TAS Rules	Trading at Settlement (TAS) is subject to the requirements of Rule 524.A. TAS trades off a "Base Price" of zero (equal to the daily settlement price) to create a differential versus the daily settlement price in the underlying futures contract month. The TAS clearing price equals the daily settlement price of the underlying futures contract month plus or minus the TAS transaction price. Trading at Marker (TAM) is analogous to Trading at Settlement (TAS) wherein parties are permitted to trade at a differential to a not-yet-known price. TAM uses a marker price, whereas TAS uses the Exchange-determined daily settlement price for the underlying futures contract month.
SETTLEMENT PROCEDURES	►Silver Settlement Procedures
POSITION LIMITS	►COMEX Position Limits
EXCHANGE RULEBOOK	►COMEX 112
BLOCK MINIMUM	►Block Minimum Thresholds
PRICE LIMIT OR CIRCUIT	►Price Limits
VENDOR CODES	►Quote Vendor Symbols Listing
DELIVERY PERIOD	Delivery may take place on any business day beginning on the first business day of the delivery month or any subsequent business day of the delivery month, but not later than the last business day of the current delivery month.
GRADE AND QUALITY	Silver delivered under this contract shall assay to a minimum of 999 fineness.

CME Group Silver Futures Contract Specifications

CONTRACT UNIT

5,000 troy ounces

PRICE QUOTATION

U.S. dollars and cents per troy ounce

TRADING HOURS

CME Globex:

Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)

TAS: Sunday - Friday 6:00 p.m. - 1:25 p.m. (5:00 p.m - 12:25 p.m. CT)

TAM: Sunday - Friday 6:00 p.m. ET - 12:02 p.m. London time

CME ClearPort:

Sunday 5:00 p.m. - Friday 4:00 p.m. CT with no reporting Monday - Thursday from 4:00 p.m. - 5:00 p.m. CT

MINIMUM PRICE FLUCTUATION

Outright:

0.005 per troy ounce = $25.00

TAS/TAM: Zero or +/- 10 ticks in 0.001 increments

CALENDAR SPREAD

0.001 per troy ounce = $5.00

PRODUCT CODE

CME Globex: SI

CME ClearPort: SI

Clearing: SI

TAS: SIT

LISTED CONTRACTS

Monthly contracts listed for 3 consecutive months and any Jan, Mar, May, and Sep in the nearest 23 months and any Jul and Dec in the nearest 60 months

SETTLEMENT METHOD

Deliverable

TERMINATION OF TRADING

Trading terminates at 12:25 p.m. CT on the third last business day of the contract month.

TAM or TAS Rules

Trading at Marker (TAM) is analogous to Trading at Settlement (TAS) wherein parties are permitted to trade at a differential to a not-yet-known price. TAM uses a marker price, whereas TAS uses the Exchange-determined daily settlement price for the underlying futures contract month.

SETTLEMENT PROCEDURES

►Silver Settlement Procedures

POSITION LIMITS

►COMEX Position Limits

EXCHANGE RULEBOOK

►COMEX 112

BLOCK MINIMUM

►Block Minimum Thresholds

PRICE LIMIT OR CIRCUIT

►Price Limits

VENDOR CODES

►Quote Vendor Symbols Listing

DELIVERY PERIOD

Delivery may take place on any business day beginning on the first business day of the delivery month or any subsequent business day of the delivery month, but not later than the last business day of the current delivery month.

GRADE AND QUALITY

Silver delivered under this contract shall assay to a minimum of 999 fineness.

ENQUIRY FORM

KGI SECURITIES (SINGAPORE) PTE. LTD.