COMEX Copper Premium Grade A CIF Shanghai (Metal Bulletin) Futures (CUP)

COMEX Copper Premium Grade A CIF Shanghai (Metal Bulletin) Futures (CUP) is a cash-settled contract based on the Copper Grade A cathode Cif Shanghai, low-high  published by Metal Bulletin.

This contract will complement the existing physically delivered, liquid benchmark COMEX Copper futures contract. With this first, financially settled exchange-traded futures contract, you will be able to manage your price exposure to China copper premium.

Key Benefits

  • Manage Price Exposure to China copper premium
  • Security through centralized clearing, guaranteed counterparty credit and segregation of customer funds through CME Clearing
  • Easily accessible electronic execution
  • Daily mark-to-market of positions

Ease-of-Access

Copper Premium Futures are available to trade on CME Globex and via CME Direct, CME Group’s free front-end trading platform. CME Globex operates as a Central Limit Order Book (CLOB). Copper will be available for clearing on CME ClearPort for privately negotiated trades.

Contact Us

Interested in learning more about this new contract? Our team is here to assist:

CME Direct

Delivered securely across the Internet, CME Direct is a highly configurable trading front-end for CME Group markets that offers a complete suite of solutions across the trading lifecycle.

Learn more about CME Direct.

CME Globex

The CME Globex platform was the first, and remains among the fastest, global electronic trading systems for futures and options. Through its advanced functionality, high reliability and global connectivity, it is now the world’s premier electronic marketplace for derivatives.

Learn more about CME Globex.

CME ClearPort

CME ClearPort is a comprehensive set of flexible clearing services for the over-the-counter (OTC) market. Launched in 2002 to provide centralized clearing services and mitigate risk in the energy marketplace, CME ClearPort today serves as a gateway for a diverse slate of asset class transactions submitted for clearing. With OTC clearing through CME ClearPort, you can continue to negotiate your own prices privately and conduct business off-exchange – but you gain increased security and efficiency.

To register for clearing through CME ClearPort, you must establish an account with a COMEX clearing member and complete the Exchange User License Agreement (EULA).

Learn more about CME ClearPort.

Once you have received your username and password, contact your clearing member firm and request that your clearing account be added to RAV (Risk Allocation Value) Manager.

Get more information about clearing member firms.

Copper Premium Grade A CIF Shanghai (Metal Bulletin) Futures Contract Specifications

Contract Unit 25 metric tons
Price Quotation U.S. dollars and cents per metric ton
Trading Hours All trading hours shown in Central Time (CT) CME Globex CME ClearPort Sunday – Friday 6:00 p.m. – 5:00 p.m. (5:00 p.m. – 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation $0.25 per metric ton
Product Code CUP
Listed Contracts 18 consecutive months
Settlement Method Financially settled
Position Limits Visit cmegroup.com/nymex-position-limits for detailed NYMEX Position Limits
Exchange Rulebook COMEX 972. This contract is listed with, and subject to, the rules and regulation of COMEX
Block Minimum 10 contracts
CME Globex Match Algorithm First in First Out (FIFO)

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