|Contract Unit||25,000 pounds|
|Price Quotation||U.S. dollars and cents per pound|
|Trading Hours||CME Globex:||Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
TAS: Sunday - Friday 6:00 p.m. - 1:00 p.m. (5:00 p.m. - Noon CT)
TAM: Sunday - Friday 6:00 p.m. ET - 12:35 p.m. London time
|CME ClearPort:||Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)|
|Minimum Price Fluctuation||
Outright: 0.0005 per pound = $12.50
TAS/TAM: Zero or +/- 10 ticks in the minimum tick increment of the outright
Spot TAS: Zero
|Product Code||CME Globex: HGCME ClearPort: HGClearing: HGTAS: "HGT","HG0"TAM: HGK|
|Listed Contracts||Monthly contracts listed for 24 consecutive months and any March, May, July, September, and December in the nearest 63 months.|
|Termination Of Trading||
Trading terminates at 12:00 Noon CT on the third last business day of the contract month.
TAM trading terminates at 12:35 p.m. London time on the third last business day of the month prior to the contract month.
|Trade At Marker Or Trade At Settlement Rules||Trading at Settlement (TAS) is subject to the requirements of Rule 524.A. TAS trades off a "Base Price" of zero (equal to the daily settlement price) to create a differential versus the daily settlement price in the underlying futures contract month. The TAS clearing price equals the daily settlement price of the underlying futures contract month plus or minus the TAS transaction price.
Trading at Marker (TAM) is analogous to Trading at Settlement (TAS) wherein parties are permitted to trade at a differential to a not-yet-known price. TAM uses a marker price, whereas TAS uses the Exchange-determined daily settlement price for the underlying futures contract month.
|Settlement Procedures||Copper Futures Settlement Procedures|
|Position Limits||COMEX Position Limits|
|Exchange Rulebook||COMEX 111|
|Block Minimum||Block Minimum Thresholds|
|Price Limit Or Circuit||Price Limits|
|Vendor Codes||Quote Vendor Symbols Listing|
|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 delivery month.|
|Grade And Quality||The contract (basis) grade for the Grade 1 copper contract shall be Grade 1 Electrolytic Copper Cathodes (full plate or cut) and shall conform to the specifications (as to chemical and physical requirements) for Grade 1 Electrolytic Copper Cathode as adopted by the American Society for Testing and Materials (B115-00), or its latest revision.|
Copper futures are hedging tools that offer copper price mitigation opportunities to a range of market participants. They also provide global price discovery and opportunities for portfolio diversification, as well as:
Things to know about the contracts: