- What is the contract symbol for the Aluminum Option contract?
- Why is CME Group launching this product?
- What are the contract specifications?
- When does trading terminate for Aluminum Option?
- Is the Aluminum Option contract block eligible?
- Into which futures contract do the Aluminum Option contract month exercise?
- Where can I trade the Aluminum Option contract?
- What are the trading hours on CME Globex and submission hours on Clearport?
1. What is the contract symbol for the Aluminum Option contract?
The contract symbol is AX (The benchmark Aluminum Futures contract is ALI).
2. Why is CME Group launching this product?
The introduction of the Aluminum Option contract expands the offering of the Aluminum product suite at CME Group and will provide the aluminum industry with an alternative to managing price risk.
3. What are the contract specifications?
4. When does trading terminate for Aluminum Option?
Trading terminates on the 4th last business day of the month prior to the contract month.
5. Is the Aluminum Option contract block eligible?
Yes. The Aluminum Option contract is available for Block Trading and clearing via CME Clearport. Block minimum thresholds can be found here Block Minimum Thresholds.
6. Into which futures contract do the Aluminum Option contract month exercise?
The Aluminum Option contract months exercise into the Aluminum Futures contract based on the schedule indicated in the following table:
|Option contract month||Exercise into underlying futures|
7. Where can I trade the Aluminum Option contract?
Trading takes place on COMEX via CME Globex and block trading and submission for clearing take place through CME Clearport.
8. What are the trading hours on CME Globex and submission hours on Clearport?
|Trading and clearing hours||CME Globex: Sunday - Friday 5:00 p.m. Central Time/CT with a daily maintenance period from 4:00 p.m. - 5:00 p.m. CT
CME Globex Pre-Open: Sunday 4:00 p.m. - 5:00 p.m. CT. Monday - Thursday 4:45 p.m. - 5:00 p.m. CT
CME ClearPort: Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with no reporting Monday - Thursday from 4:00 p.m. - 5:00 p.m. CT
* Subject to regulatory review
All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.