|
|
 |
| Trading Unit |
|
| 100 troy ounces. |
|
| Price Quotation |
|
| Dollars and cents per troy ounce. For example:
$282.70 per troy ounce. |
|
| Trading Hours |
|
Open outcry trading is conducted from 8:20 A.M.
until 1:30 P.M.
After-hours futures trading is conducted via the NYMEX ACCESS®
internet-based trading platform beginning at 3:15 P.M. on Mondays through
Thursdays and concluding at 8:00 A.M. the following day. On Sundays, the
session begins at 7:00 P.M. All times are New York time. |
|
| 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 |
|
| Price changes are registered in multiples of 10¢
($0.10) per troy ounce, equivalent to $10 per contract. A fluctuation of
$1 is, therefore, equivalent to $100 per contract. |
|
| Maximum Daily Price Fluctuation |
|
Initial price limit, based upon the preceding
day's settlement price is $75 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 located in
the Borough of Manhattan, New York City, 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, or in
Connection with, 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 |
|
| Any one month, all months: 7,500 net futuers
equivalent, but not to exceed 3,000 in the spot month. |
|
| Margin Requirements |
|
| Margins are required for open futures and short
options positions. The margin requirement for an options purchaser will
never exceed the premium paid. |
|
| Trading Symbol |
|
| GC |
|
|
|
| Trading Unit |
|
| One COMEX Division gold futures contract. |
|
| Price Quotation |
|
| Dollars and cents per troy ounce. For example:
$282.70 per troy ounce. |
|
| Trading Hours |
|
Open outcry trading is conducted from 8:20 A.M.
until 1:30 P.M.
After-hours futures trading is conducted via the NYMEX ACCESS®
internet-based trading platform beginning at 3:15 P.M. on Mondays through
Thursdays and concluding at 8:00 A.M. the following day. On Sundays, the
session begins at 7:00 P.M. All times are New York time. |
|
| 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 option 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 |
|
| Price changes are registered in multiples of 10¢
($0.10) per troy ounce, equivalent to $10 per contract. A fluctuation of
$1 is, therefore, equivalent to $100 per contract. |
|
| Maximum Daily Price Fluctuation |
|
| No price limits. |
|
| Last Trading Day |
|
| Expiration occurs on the second Friday of the
month prior to the delivery month of the underlying futures contract.
Beginning with the expiration of the December 2002 contract, options will
expire on the fourth business day prior to the end of the month preceding
the options contract 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 4:00 P.M., New
York time, to exercise an options contract. |
|
| Options Strike Price Intervals |
|
| $10 per ounce apart for strike prices below $500,
$20 per ounce apart for strike prices between $500 and $1,000, $50 per
ounce apart for strike prices above $1,000. For the nearest six contract
months, strike prices will be $5, $10, and $25 apart, respectively. |
|
| 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 located in
the Borough of Manhattan, New York City, 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. |
|
| 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 |
|
| Any one month, all months: 7,500 net futuers
equivalent, but not to exceed 3,000 in the spot month. |
|
| Margin Requirements |
|
| Margins are required for open futures and short
options positions. The margin requirement for an options purchaser will
never exceed the premium paid. |
|
| Trading Symbol |
|
| OG |
|
