COMEX Gold Futures
CONTRACT SPECIFICATIONS
| COMEX Gold Futures | |
|---|---|
| Contract Unit | 100 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: Sun-Fri 6:00 p.m. - 1:30 p.m. ET (5:00 - 12:30 CT) 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 | 0.10 per troy ounce = $10.00 TAS/TAM: Zero or +/- 10 ticks in 0.10 increments |
| Product Code | CME Globex: GC CME ClearPort: GC Clearing: GC TAS: GCT TAM: GCD |
| Listed Contracts | Monthly contracts listed for 26 consecutive months and any Jun and Dec in the nearest 72 months. |
| Settlement Method | Deliverable |
| Termination of Trading | Trading terminates at 12:30 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. TAS Table |
| Settlement Procedures | Gold Settlement Procedures |
| Position Limits | COMEX Position Limits |
| Exchange Rulebook | COMEX 113 |
| 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 | Gold delivered under this contract shall assay to a minimum of 995 fineness. |
