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Contract Specifications for COMEX Silver Futures (SI)

EXCHANGE Chicago Mercantile Exchange (CME)
PRODUCT CODE CME Globex: SI
CME ClearPort: SI
Clearing: SI
TAS: SIT
TRADING HOURS CME Globex:
Sunday – Friday 6:00 pm – 5:00 pm (5:00 pm – 4:00 pm Chicago Time/CT) with a 60-minute break each day beginning at 5:00 pm (4:00 pm CT)

CME Clear Port:
Sunday – Friday 6:00 pm – 5:00 pm (5:00 pm – 4:00 pm Chicago Time/CT) with a 60-minute break each day beginning at 5:00 pm (4:00 pm CT)

CONTRACT UNIT 5,000 troy ounces
PRICE QUOTATION U.S. Cents per troy ounce
Please note: Prices are disseminated in U.S. Dollars and Cents
MINIMUM PRICE FLUCTUATION Outright transactions including EFP: $0.005 per troy ounce. Straddle or spread transactions and settlement prices: $0.001 per troy ounce
TERMINATION OF TRADING Trading terminates on the third last business day of the delivery month.
LISTED CONTRACTS 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 METHOD Deliverable
SETTLEMENT PROCEDURES Silver Settlement Procedures
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.
TRADE AT MARKER OR TRADE AT SETTLEMENT RULES Trading at Settlement is allowed in the active contract month. The active contract months will be March, May, July, September and December. On any given date, TAS transactions will be allowed only in a single contract month.

TAS transactions may be executed at the current day’s settlement price or at any valid price increment ten ticks higher or lower than the settlement price.

GRADE & QUALITY Silver delivered under this contract shall assay to a minimum of 999 fineness.
PRICE LIMIT OR CIRCUIT Price Limits
VENDOR CODES Quote Vendor Symbols Listing
POSITION LIMITS NYMEX Position Limits
EXCHANGE RULEBOOK COMEX 112
BLOCK MINIMUM Block Minimum Thresholds

This page was last updated: November 04, 2015

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