Chapter 113
Gold Futures
113100.

SCOPE OF CHAPTER
This chapter is limited in application to Gold futures. The procedures for trading, clearing,delivery and settlement not specifically covered herein or in Chapter 7 shall be governed by
the general rules of the Exchange.
The provision of these rules shall apply to all gold bought or sold for future delivery on theExchange.
The terms “seller” and “buyer” shall mean the seller of the physical product and the buyer ofthe physical product, respectively. Terms not specifically defined herein shall be defined in
Chapter 7.
For purposes of these rules, unless otherwise specified, times referred to herein shall refer toand indicate New York time.

113101.

CONTRACT SPECIFICATIONS
The contract for delivery on futures contracts shall be one hundred (100) troy ounces of goldwith a weight tolerance of 5% either higher or lower. Gold delivered under this contract shallassay to a minimum of 995 fineness and must be a brand approved by the Exchange.
Gold meeting all of the following specifications shall be deliverable in satisfaction of futurescontract delivery obligations under this rule:
1. Either one (1) 100 troy ounce bar, or three (3) one (1) kilo bars.
2. Gold must consist of one or more of the Exchange’s brand marks, as provided in Chapter
7, current at the date of the delivery of contract.
3. Each bar of eligible gold must have the weight, fineness, bar number, month and year ofproduction (for bars produced as of January 1, 2025), and brand mark clearly incised on
the bar. The production date can be separate from or part of the serial number. If theproduction date is part of the serial number, it can be up to 25 characters and the only
special character allowed is a dash (-). If the production date is separate from the serial
number, it can be in the following allowable format: all numeric: MMYYYY or MMYY
(e.g., 012025 or 0125).
4. The weight may be in troy ounces or grams. If the weight is in grams, it must be converted
to troy ounces for documentation purposes by dividing the weight in grams by 31.1035
and rounding to the nearest one hundredth of a troy ounce. All documentation must
illustrate the weight in troy ounces.
4. Each warrant issued by an Exchange approved depository for gold shall reference theserial number and name of the Exchange approved producer for gold of each bar.
5. Each assay certificate issued by an Exchange approved assayer for gold shall certify thateach bar of gold in the lot assays no less than 995 fineness and weight of each bar andthe name of the Exchange approved producer for gold that produced each bar.
6. Gold must be delivered to an Exchange approved depository for gold by an Exchange
approved carrier for gold as follows:a. directly from an Exchange approved producer for gold;b. directly from an Exchange approved assayer for gold, provided that such gold isaccompanied by an assay certificate of such Exchange approved assayer for gold;c. directly from another Exchange approved depository for gold, provided, that such gold
was placed in such other Exchange approved depository for gold pursuant to paragraphs(a) or (b) above; ord. directly from an Exchange approved producer for gold or Exchange approved assayer forgold that has been stored at another Exchange approved depository for gold or adepository that is owned and/or operated by an Exchange approved depository for gold.

113102.

TRADING SPECIFICATIONSThe number of months open for trading at a given time shall be determined by the Exchange.
113102.A. Trading Schedule
The hours for trading shall be determined by the Exchange.
113102.B. Trading Unit

The contract unit shall be one hundred (100) troy ounces.
113102.C. Price Increments
The minimum price fluctuation shall be ten cents ($0.10) per troy ounce. Prices shall be quoted
in dollars and cents per troy ounce.
113102.D. Position Limits, Exemptions, Position Accountability and ReportableLevels
The applicable position limits and/or accountability levels, in addition to the reportable levels,
are set forth in the Position Limit, Position Accountability and Reportable Level Table in theInterpretations & Special Notices Section of Chapter 5.
A Person seeking an exemption from position limits for bona fide commercial purposes shallapply to the Market Regulation Department on forms provided by the Exchange, and theMarket Regulation Department may grant qualified exemptions in its sole discretion.
Refer to Rule 559 for requirements concerning the aggregation of positions and allowable
exemptions from the specified position limits.
113102.E. Termination of Trading
No trades in Gold futures deliverable in the current month shall be made after the third lastbusiness day of that month. Any contracts remaining open after the last trade date must beeither:(A) Settled by delivery which shall take place on any business day beginning on the firstbusiness day of the delivery month or any subsequent business day of the delivery month,
but no later than the last business day of the delivery month.
(B) Liquidated by means of a bona fide Exchange for Related Position (“EFRP”) pursuant toRule 538. An EFRP is permitted in an expired futures contract until 12:00 p.m. on thebusiness day following termination of trading in the expired futures contract. An EFRP
which establishes a futures position for either the buyer or the seller in an expired futurescontract shall not be permitted following the termination of trading of an expired futurescontract.
113102.F. Special Price Fluctuation Limits
At the commencement of each trading day, the contract shall be subject to special fluctuation
limits as set forth in Rule 589 and in the Special Price Fluctuation Limits Table in theInterpretations & Special Notices Section of Chapter 5.

113103.-107.

[RESERVED]

113108.

VALIDITY OF DOCUMENTS
The Exchange makes no representation respecting the authenticity, validity or accuracy of any
document or instrument delivered pursuant to these rules.