Chapter 126
Gold (Enhanced Delivery) Futures
126100.

SCOPE OF CHAPTER
This chapter is limited in application to the Gold (Enhanced Delivery) Futures contract. 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 buyerof the physical product, respectively. Terms not specifically defined herein shall be definedin Chapter 7.
For purposes of these rules, unless otherwise specified, times referred to herein shall refer
to and indicate New York time.

126101.

CONTRACT SPECIFICATIONS
The contract for delivery on futures contracts shall be one hundred (100) troy ounces of goldwith a weight tolerance of 12.5% lower tolerance and 7.5% higher tolerance. Gold delivered
under this contract shall assay to a minimum of 995 fineness and must be a brand approvedby 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) kilo bars, or one (1) Accumulated
Certificate of Exchange (“ACE”) in Gold issued by the Clearing House.
a. Each ACE represents a share in the ownership of one (1) 400 troy ouncebar.
b. Should the seller’s clearing member satisfy its delivery obligations withrespect to a contract by utilizing ACEs, the buyer’s clearing member
receives and the seller’s clearing member delivers one (1) ACE as issuedby the Clearing House.
c. A clearing member may request the issuance of ACEs by electronicallyendorsing to the Clearing House a warrant representing one (1) 400 troy
ounce bar. The Clearing House will issue four (4) ACEs, with each such
ACE representing an equal share in the ownership of the 400 troy ouncebar.
d. ACEs may only be redeemed for a warrant upon the accumulation of four(4) ACEs. Upon presentation and endorsement to the Clearing House ofACEs, the owner will receive one (1) warrant for one (1) 400 troy ounce
bar. Tolerance adjustments for ounces received vs. ounces representedby the ACEs will be made through the Clearing House.
e. Storage charges are invoiced to the clearing member who owns the ACEs.
f. Notwithstanding the weight tolerance as defined above, any 100 troy
ounce bar used in the delivery process needs to comply with a weighttolerance of 5% either higher or lower for that bar.
2. Gold must consist of one or more of the Exchange’s brand marks, as provided inChapter 7, current at the date of the delivery of contract.
3. Each 100 troy ounce or kilo bar of eligible gold must have the weight, fineness, barnumber, month and year of production (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 the product date is part of the serial number, it
can be up to 25 characters and the only special character allowed is a dash (-). Ifthe 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).
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 ingrams by 31.1035 and rounding to the nearest one hundredth of a troy ounce.
All documentation must illustrate the weight in troy ounces. Each 400 troy ounce
bar must have the fineness, bar number, month and year of production (for bars
produced as of January 1, 2025), and brand mark clearly incised on the bar andmust be eligible for settlement in the wholesale London bullion market. If theproduction date is part of the serial number, it can be up to 25 characters and theonly special character allowed is a dash (-). If the production date is separate fromthe serial number, it can be in the following allowable format:
all numeric: MMYYYY or MMYY (e.g., 012025 or 0125).
4.

5.

6.

126102.

Each warrant issued by an Exchange approved depository for gold shall reference
the serial number and name of the Exchange approved producer of each bar ofgold.
Each assay certificate issued by an Exchange approved assayer for gold shallcertify that each bar of gold in the lot assays no less than 995 fineness and weightof each bar and the name of the Exchange approved producer for gold that
produced each bar.
Gold must be delivered to an Exchange approved depository for gold by anExchange 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 suchgold is accompanied 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 for gold that has been stored at another Exchange
approved depository for gold or a depository that is owned and/oroperated by an Exchange approved depository for gold.

TRADING SPECIFICATIONSThe number of months open for trading at a given time shall be determined by theExchange.
126102.A. Trading Schedule
The hours of trading for this contract shall be determined by the Exchange.
126102.B. Trading Unit
The contract quantity shall be one hundred (100) troy ounces.
126102.C. Price Increments
The minimum price fluctuation shall be ten cents ($0.10) per troy ounce. Prices shall bequoted in dollars and cents per troy ounce.
126102.D. Position Limits, Exemptions, Position Accountability and Reportable
Levels
The applicable position limits and/or accountability levels, in addition to the reportablelevels, are set forth in the Position Limit, Position Accountability and Reportable Level Tablein the Interpretations & Special Notices Section of Chapter 5. A Person seeking an
exemption from position limits for bona fide commercial purposes shall apply to the MarketRegulation Department on forms provided by the Exchange, and the Market Regulation
Department may grant qualified exemptions in its sole discretion. Refer to Rule 559 forrequirements concerning the aggregation of positions and allowable exemptions from thespecified position limits.
126102.E. Termination of Trading
No trades in Gold (Enhanced Delivery) futures deliverable in the current month shall bemade after the third last business day of that month. Any contracts remaining open after thelast trade date must be either:(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, or(B) Liquidated by means of a bona fide Exchange for Related Position (“EFRP”) pursuant
to Rule 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 whichestablishes a futures position for either the buyer or the seller in an expired futures contract
shall not be permitted following the termination of trading of an expired futures contract.
126102.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 Tablein the Interpretations & Special Notices Section of Chapter 5.

126103.

DELIVERY PROCEDURES AND FACILITIESApproved delivery facilities and procedures not addressed within this chapter will follow thoseoutlined in Chapter 7 of the COMEX rulebook for the COMEX Gold Enhanced Delivery (4GC)
contract.

126104.-126107 - RESERVED
126108.

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