SILVER FUTURES - CONTRACT SPECS

Contract Unit	5,000 troy ounces
Price Quotation	U.S. dollars and cents per troy ounce
Trading Hours	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. - 1:25 p.m. (5:00 p.m - 12:25 p.m. CT) TAM: Sunday - Friday 6:00 p.m. ET - 12:02 p.m. London time
Minimum Price Fluctuation	Outrights: 0.005 per troy ounce = $25.00 Spreads: 0.001 per troy ounce = $5.00 TAS/TAM: Zero or +/- 10 ticks in 0.001 increments
Product Code	CME Globex: SI CME ClearPort: SI Clearing: SI TAS: SIT
Listed Contracts	Monthly contracts listed for 3 consecutive months and any Jan, Mar, May, and Sep in the nearest 23 months and any Jul and Dec in the nearest 60 months
Settlement Method	Deliverable
Termination Of Trading	Trading terminates at 12:25 p.m. CT on the third last business day of 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	Silver Settlement Procedures
Position Limits	COMEX Position Limits
Exchange Rulebook	COMEX 112
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	Silver delivered under this contract shall assay to a minimum of 999 fineness.

Quick Links

Contract Related

Product Related

Delivery Notices

Resources

CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs).
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

Markets Home

Market Data Home

Services Home

Education Home