The CME 5000 oz silver futures contract (contract specs) is the world’s most traded silver futures contract and it is physically deliverable in “five (5) bars of refined silver cast in bars of one thousand (1,000) troy ounces”.
silver, copper, and aluminum. COMEX merged with the New York Mercantile Exchange (NYMEX) in 1994 and became the platform responsible for its metals trading.1In 2008, the CME Group purchased the NYMEX, including its COMEX division.2
Contract Specs – SGE COMEX gold contractsThe SGE’s new contract, called NYAuTN, which was also launched on 14 October, trades on the SGE’s electronic trading platform and is also a cash-settled contract with deferred settlement. In general, the SGE uses the naming convention T + D to ...
So this basically takes the COMEX 100 oz contract and adds the ability to settle using 400 oz gold bars, which will mean changing the contract specs section of chapter 113 of the COMEX rulebook. The new contract will trade on Globex and can trade on Clearport (OTC), and is subject...