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International Skimmed Milk Powder Futures
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International Skimmed Milk Powder Futures
Contract Size 20 Metric Tonnes Skimmed Milk Powder (18 - 20MT Deliverable Variance)
Product Description Skimmed Milk Powder meeting "Codex Standard for Milk Powders and Cream Powder" (Codex Standard 207-1999)
Pricing Unit Cents per metric tonne
Tick Size (minimum fluctuation) $0.50 per metric tonne (= $10.00 per contract)
Daily Price Limits 50.00 per metric tonne above or below the previous day's settlement price, expandable limits. There shall be no daily price limits in the expiring contract during the last 5 trading days. See CME Rule: 5902.D
Trading Hours CME Globex (Electronic Platform) Sunday at 5:00 p.m. through Friday at 1:55 p.m. with daily trading halts from 4:00 p.m. to 5:00 p.m.
Last Trade Date/Time
View calendar		 Trading shall terminate on the business day immediately preceding the last seven business days of the contract month. (LTD 12:10 p.m.)
Contract Months
View listings		 Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sep, Oct, Nov and Dec
Settlement Procedure Daily Dairy Settlement Procedure (PDF)
Position Limits Non-Spot: 1000 contracts in any contract month
Spot: 500 contracts
See CME Rule: 5902.E
Ticker Symbol ISM
View product and vendor codes
CME Rulebook Chapter 59
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CME.