Commodity Futures and Strategic Investment Managers

Gold | Silver | Platinum | Copper

Gold Contracts Overview | Quote-board

FUTURES

OPTIONS

Trading Unit

100 troy ounces.

Price Quotation

U.S. dollars and cents per troy ounce.

Trading Hours (All times are New York time)

Open outcry trading is conducted from 8:20 AM until 1:30 PM.

After-hours futures trading is conducted via the NYMEX ACCESS® internet-based trading platform beginning at 3:15 PM on Mondays through Thursdays and concluding at 8:00 AM the following day. On Sundays, the session begins at 7:00 PM.

Trading Months

Trading is conducted for delivery during the current calendar month, the next two calendar months, any February, April, August, and October thereafter falling within a 23-month period, and any June and December falling within a 60-month period beginning with the current month.

Minimum Price Fluctuation

$0.10 (10¢) per troy ounce ($10.00 per contract).

Maximum Daily Price Fluctuation

Initial price limit, based upon the preceding day's settlement price, is $75.00 per ounce. Two minutes after either of the two most active months trades at the limit, trades in all months of futures and options will cease for a 15-minute period. Trading will also cease if either of the two active months is bid at the upper limit or offered at the lower limit for two minutes without trading. Trading will not cease if the limit is reached during the final 20 minutes of a day's trading. If the limit is reached during the final half hour of trading, trading will resume no later than 10 minutes before the normal closing time. When trading resumes after a cessation of trading, the price limits will be expanded by increments of 100%.

Last Trading Day

Trading terminates at the close of business on the third to last business day of the maturing delivery month.

Delivery

Gold delivered against the futures contract must bear a serial number and identifying stamp of a refiner approved and listed by the Exchange. Delivery must be made from a depository licensed by the Exchange.

Delivery Period

The first delivery day is the first business day of the delivery month; the last delivery day is the last business day of the delivery month.

Exchange of Futures for Physicals (EFP)

The buyer or seller may exchange a futures position for a physical position of equal quantity. EFPs may be used to either initiate or liquidate a futures position.

Grade and Quality Specifications

In fulfillment of each contract, the seller must deliver 100 troy ounces (±5%) of refined gold, assaying not less than .995 fineness, cast either in one bar or in three one-kilogram bars, and bearing a serial number and identifying stamp of a refiner approved and listed by the Exchange. A list of approved refiners and assayers is available from the Exchange upon request.

Position Accountability Levels and Limits

Any one month/all months: 6,000 net futures equivalent, but not to exceed 3,000 in the spot month.

Margin Requirements

Margins are required for open futures positions.

Trading Symbol

GC

Trading Unit

100 troy ounces.

Price Quotation

U.S. dollars and cents per troy ounce.

Trading Hours (All times are New York time)

Open outcry trading is conducted from 8:20 AM until 1:30 PM.

After-hours futures trading is conducted via the NYMEX ACCESS® internet-based trading platform beginning at 3:15 PM on Mondays through Thursdays and concluding at 8:00 AM the following day. On Sundays, the session begins at 7:00 PM.

Trading Months

Trading is conducted for delivery during the current calendar month, the next two calendar months, any February, April, August, and October thereafter falling within a 23-month period, and any June and December falling within a 60-month period beginning with the current month.

Minimum Price Fluctuation

$0.10 (10¢) per troy ounce ($10.00 per contract).

Maximum Daily Price Fluctuation

Initial price limit, based upon the preceding day's settlement price, is $75.00 per ounce. Two minutes after either of the two most active months trades at the limit, trades in all months of futures and options will cease for a 15-minute period. Trading will also cease if either of the two active months is bid at the upper limit or offered at the lower limit for two minutes without trading. Trading will not cease if the limit is reached during the final 20 minutes of a day's trading. If the limit is reached during the final half hour of trading, trading will resume no later than 10 minutes before the normal closing time. When trading resumes after a cessation of trading, the price limits will be expanded by increments of 100%.

Last Trading Day

Trading terminates at the close of business on the third to last business day of the maturing delivery month.

Delivery

Gold delivered against the futures contract must bear a serial number and identifying stamp of a refiner approved and listed by the Exchange. Delivery must be made from a depository licensed by the Exchange.

Delivery Period

The first delivery day is the first business day of the delivery month; the last delivery day is the last business day of the delivery month.

Exchange of Futures for Physicals (EFP)

The buyer or seller may exchange a futures position for a physical position of equal quantity. EFPs may be used to either initiate or liquidate a futures position.

Grade and Quality Specifications

In fulfillment of each contract, the seller must deliver 100 troy ounces (±5%) of refined gold, assaying not less than .995 fineness, cast either in one bar or in three one-kilogram bars, and bearing a serial number and identifying stamp of a refiner approved and listed by the Exchange. A list of approved refiners and assayers is available from the Exchange upon request.

Position Accountability Levels and Limits

Any one month/all months: 6,000 net futures equivalent, but not to exceed 3,000 in the spot month.

Margin Requirements

Margins are required for open futures positions.

Trading Symbol

GC

Trading Unit

One COMEX Division gold futures contract.

Price Quotation

U.S. dollars and cents per troy ounce.

Trading Hours (All times are New York time)

Open outcry trading is conducted from 8:20 AM until 1:30 PM.

Trading Months

The nearest six of the following contract months: February, April, June, August, October, and December. Additional contract months – January, March, May, July, September, and November – will be listed for trading for a period of two months. A 24-month options contract is added on a June/December cycle.

The options are American-style and can be exercised at any time up to expiration. On the first day of trading for any options contract month, there will be 13 strike prices each for puts and calls.

Minimum Price Fluctuation

$0.10 (10¢) per troy ounce ($10.00 per contract).

Maximum Daily Price Fluctuation

No price limits.

Last Trading Day

Expiration occurs on the fourth business day prior to the underlying futures delivery month. If the expiration day falls on a Friday or immediately prior to an Exchange holiday, expiration will occur on the previous business day.

Exercise of Options

Until one hour after the contract market close, New York time, on any business day for which the options contract is listed for trading. On expiration day, the buyer has until 4:30 PM, New York time, to exercise an options contract.

Strike Prices

$10.00 per ounce apart for strike prices below $500, $20.00 per ounce apart for strike prices between $500 and $1,000, $50.00 per ounce apart for strike prices above $1,000. For the nearest six contract months, strike prices will be $5.00, $10.00, and $25.00 apart, respectively.

Margin Requirements

Margins are required for open short options positions. The margin requirement for an options purchaser will never exceed the premium paid.

Trading Symbol

OG