Contract Specifications for Silver Futures (SI)
| EXCHANGE | Chicago Mercantile Exchange (CME) |
|---|---|
| PRODUCT SYMBOL | SI |
| VENUE | CME Globex, CME Clear Port, Open Outcry (New York) |
| TRADING HOURS (ALL TIMES ARE NEW YORK TIME/ET) | CME Globex: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT) CME Clear Port: Open Outcry: |
| CONTRACT SIZE | 5,000 troy ounces |
| PRICE QUOTATION | U.S. Cents per ounce |
| TICK SIZE (Minimum Fluctuation) | Outright transactions including EFP: $0.005 per troy ounce ($25 per contract). Straddle or spread transactions and settlement prices: $0.001 ($5 per contract)per troy ounce |
| TERMINATION OF TRADING | Trading terminates on the third last business day of the delivery month. |
| CONTRACT MONTHS | Trading is conducted for delivery during the current calendar month; the next two calendar months; any January, March, May, and September falling within a 23-month period; and any July and December falling within a 60-month period beginning with the current month. |
| SETTLEMENT TYPE | Physical Settlement |
| 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 month. |
| GRADE & QUALITY SPECIFICATIONS | In fulfillment of each contract, the seller must deliver 5,000 troy ounces (±6%) of refined silver, assaying not less than .999 fineness, in cast bars weighing 1,000 or 1,100 troy ounces each and bearing a serial number and identifying stamp of a refiner approved and listed by the Exchange upon request. |
| POSITION LIMITS | All month accountability level: 6,000 Any one month accountability level: 6,000 Expiration month limit: 1,500 Reporting level : 150 |
| EXCHANGE RULES | These contracts are listed with, and subject to, the Rules and Regulations of COMEX. |
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