Metals 2024
Product guide and calendar

As the world’s leading and most diverse derivatives
marketplace, CME Group (cmegroup.com) is where theworld comes to manage risk. CME Group offers thewidest range of global benchmark products across all
major asset classes, including futures and options basedon interest rates, equity indexes, foreign exchange,energy, agricultural commodities, metals, weather,and real estate. CME Group brings buyers and sellers
together through its CME Globex electronic trading
platform and its trading facility in Chicago. CME Groupalso operates CME Clearing, one of the world’s leading
central counterparty clearing providers, which offers
clearing and settlement services across asset classes
for exchange-traded contracts and over-the-counter
derivatives transactions. These products and services
ensure that businesses everywhere can substantiallymitigate counterparty credit risk.

2024 Metals Product Guide and Calendar

Metals at CME Group
In today’s rapidly moving Metals markets, CME Group helps you forge ahead with certainty byenabling you to:• Trade the most comprehensive Metals offering that covers all your needs in one marketplace.
•	Tap into unparalleled Precious Metals liquidity and our expanded slate of Base, Ferrous andBattery Metals solutions, available around the clock.
•	Capitalize on innovative product design that makes it easier to execute while reducing your costs
to trade.
2023 was another active year for Metals markets, with increased volatility following a regionalbanking crisis in the U.S. in March, increased geopolitical instability and the continued rising interest
rate environment globally. Precious Metals saw mixed results, with Gold sharply higher, reaching a
new all-time high in December, Silver mostly flat and PGM’s facing a challenging macro environment.
Industrial Metals continued to see outsized growth, particularly in our physically delivered, global
Aluminum (ALI) contract. Copper (HG) also saw significant increases in participation during 2023. We
continue to see significant tailwinds in our ESG-related products, particularly Cobalt and Lithium.
Our 2023 investments brought innovative solutions to Metals markets. Micro Platinum futures andMicro Gold option contracts were launched in March and October 2023, respectively, which expanded
our Micro futures and options product slate. 2023 saw the launch of Molybdenum, Lithium Carbonate
and Cobalt Hydroxide futures, along with options on Cobalt Metal (Fastmarkets) and Lithium
Hydroxide CIF CJK (Fastmarkets) futures, adding to our fast-growing Battery Metals product suite.
Product modifications included expanding eligibility of Platinum to include larger size bars, which
better aligns with the London market. We also extended Platinum and Palladium futures and options
listing schedules to provide more trading opportunities for market participants as well as a second
trade-at-settlement (TAS) month added to Palladium futures.
We enhanced Base Metals offerings by expanding Aluminum storage options, increasing spot monthposition limits for Aluminum futures from 150 to 200 contracts and extending listing schedules for
Aluminum European Premium Duty-Paid (Metal Bulletin) and Aluminum European Duty-Unpaid (Metal
Bulletin) futures to include the current and next three calendar years. Additionally, spot month position
limits for Cobalt Metal (Fastmarkets) futures doubled to 800 contracts and the Molybdenum Oxide(Platts) futures listing schedule was extended to include the current and next calendar year.
In Precious Metals, Micro Gold futures reached a new volume record and Micro Silver futures recorded
its second highest annual volumes in 2023. We also saw the following annual records last year:• Gold Weekly options had its highest volume year all-time with an ADV of 13,984 contracts.
• Silver Weekly options had its highest volume year all-time with an ADV of 2,043 contracts.
In Industrial Metals, Micro Copper futures ADV grew to 4,882 contracts, an increase of 117% yearover-year. COMEX Copper Monthly and Weekly options also finished the year with an ADV of 5,889
contracts and reached an open interest record of 181,617 contracts on February 21. Our suite ofAluminum products saw a surge of participation in physically deliverable Aluminum futures (ALI) andAluminum options (AX), with ADV reaching 4,899 in 2023, an increase of 193% year-over-year andopen interest hitting 5,396 contracts on November 3.
CME Group Steel futures notched its seventh record volume year. U.S. Midwest Hot-Rolled Coil Steelfutures ADV rose 25% YoY to 1,303 contracts, lifting overall Steel ADV grew 17% to 1,764 contracts. We
continue to see uptake across client segments in our Steel product suite. Hot-Rolled Coil Steel option(HRO) ADV surged 73% YoY to 130 contracts.
Our suite of Battery Metals saw strong momentum in 2023, with Cobalt futures reaching a record
open interest of 21,377 contracts on July 27. The Battery Metals suite expanded with new offerings,
and we continue to evaluate additional contracts.
We look forward to building on our successes from last year and solidifying our position as the venueof choice for Metals derivatives trading, in what may prove to be another year full of challenges andopportunities. On behalf of the CME Group Metals team, we wish you the best for 2024.

cmegroup.com/metals

Connect

Connect seamlessly to electronic markets with flexible execution choices that enhance your accessto liquidity:• CME Globex, a global electronic trading system for futures and options.
• CME ClearPort, a comprehensive set of flexible clearing services for the global OTC market.
• CME Direct, a highly-configurable trading front end for CME Group markets that offers a complete
suite of solutions across the trading life cycle. Access both QuikStrike, an integrated options
analytics tool, and CME Chat, an open instant messaging platform.

Trade

Benefit from the broadest listed Metals product offering, providing single platform access andpotential for margin offset savings.

Global Repository Services

CME Group Global Repository Services provides multi-asset class reporting solutions to help
market participants to comply with their Global Regulatory Reporting requirements. We enableclients to meet their requirements through trade reporting services including the CME Swap Data
Repository (CME SDR), CME Canadian Trade Repository (CME CTR), and now CME Australia
Trade Repository (CME ATR).

Discover the benefits of CME Group Metals.
Visit cmegroup.com/metals today.

2024 Metals Product Guide and Calendar
Table of Contents
Contract Specifications Section Guide . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Trading Hours. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  5
Precious Metals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Base Metals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  39
Ferrous Metals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Battery Metals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  74
Other Metals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  79
Overview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80
Useful Links. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  852024 calendar. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86
Contact Information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99

cmegroup.com/metals

CME Group Metals Futures
and Options Contracts:
CONTRACT SPECIFICATIONSPRECIOUS METALS FUTURES AND OPTIONS CONTRACTS
Gold Futures......................................................................................................................................................................7
Gold kilo Futures............................................................................................................................................................ 8Gold (Enhanced Delivery) Futures....................................................................................................................... 9
Micro Gold Futures..................................................................................................................................................... 10
E-Mini Gold Futures......................................................................................................................................................11
Silver Futures...................................................................................................................................................................12
Micro Silver Futures.....................................................................................................................................................13
E-Mini Silver Futures....................................................................................................................................................14
Platinum Futures...........................................................................................................................................................15
Micro Platinum Futures.............................................................................................................................................16
Palladium Futures.........................................................................................................................................................17
Micro Palladium Futures...........................................................................................................................................18
London Spot Gold Futures......................................................................................................................................19
London Spot Silver Futures....................................................................................................................................20
Shanghai Gold (USD) Futures...............................................................................................................................21
Shanghai Gold (CNH) Futures............................................................................................................................. 22Gold Option.................................................................................................................................................................... 23Gold Weekly Monday Option..............................................................................................................................24
Gold Weekly Wednesday Option......................................................................................................................25
Gold Weekly Friday Option...................................................................................................................................26
Silver Option................................................................................................................................................................... 27
Silver Weekly Monday Option.............................................................................................................................28
Silver Weekly Wednesday Option.....................................................................................................................29
Silver Weekly Friday Option..................................................................................................................................30
Platinum Option............................................................................................................................................................31
Palladium Option........................................................................................................................................................ 32
Micro Gold Option......................................................................................................................................................33
Micro Gold Weekly Monday Option................................................................................................................34
Micro Gold Weekly Wednesday Option........................................................................................................35
Micro Gold Weekly Friday Option.....................................................................................................................36
Cleared OTC London Gold Forwards (Cash Margin) ............................................................................ 37
Cleared OTC London Silver Forwards (Cash Margin) ...........................................................................382

2023 Metals Product Guide and Calendar

BASE METALS FUTURES AND OPTIONS CONTRACTS
Copper Futures.............................................................................................................................................................39
Micro Copper Futures.............................................................................................................................................. 40
Copper Financial Futures........................................................................................................................................41
E-Mini Copper Futures.............................................................................................................................................42
Copper Premium Grade A CIF Shanghai (Metal Bulletin) Futures..................................................43
Aluminum Futures.......................................................................................................................................................44
Zinc Futures....................................................................................................................................................................45
Lead Futures..................................................................................................................................................................46
Aluminum MW U.S. Transaction Premium Platts (25MT) Futures.................................................... 47
Aluminium European Premium Duty-Unpaid (Metal Bulletin) Futures..........................................48
Aluminium European Premium Duty-Paid (Metal Bulletin) Futures................................................49
Aluminum Japan Premium (Platts) Futures................................................................................................. 50
Aluminum A380 Alloy (Platts) Futures..............................................................................................................51
Alumina Fob Australia (Platts) Futures .......................................................................................................... 52
Alumina Fob Australia (Metal Bulletin) Futures .........................................................................................53
Copper Option..............................................................................................................................................................54
Copper Weekly Monday Option........................................................................................................................55
Copper Weekly Wednesday Option................................................................................................................56
Copper Weekly Friday Option............................................................................................................................. 57
Copper Average Price Option..............................................................................................................................58
Aluminum Option........................................................................................................................................................59
Aluminum MW U.S. Transaction Premium Platts (25MT) Average Price Option................... 60

3

cmegroup.com/metals

FERROUS METALS FUTURES AND OPTIONS CONTRACTS
Iron Ore 62% Fe, CFR China (TSI) Futures.....................................................................................................61
Iron Ore China Portside Fines CNH FOT Qingdao (Argus) Futures...............................................62
Iron Ore China Portside Fines USD Seaborne Equivalent (Argus) Futures.................................63
U.S. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index Futures................................................64
U.S. Midwest Domestic Hot-Rolled Coil Steel (Platts) Futures..........................................................65
U.S. Midwest #1 Busheling Ferrous Scrap (Amm) Futures................................................................... 66
U.S. Midwest Shredded Scrap (Platts) Futures........................................................................................... 67
HMS 80/20 Ferrous Scrap, CFR Turkey (Platts TSI) Futures.............................................................. 68
North European Hot-Rolled Coil Steel (Argus) Futures..........................................................................69
U.s. Midwest Domestic Steel Premium (CRU) Futures............................................................................70
Iron Ore 62% Fe, CFR China (TSI) Average Price Option.....................................................................71
U.s. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index Average Price Option................. 72
North European Hot-Rolled Coil Steel (Argus) Average Price Option.......................................... 73
Cobalt Metal (Fastmarkets) Futures................................................................................................................. 74

BATTERY METALS
Cobalt Hydroxide CIF China (Fastmarkets) Futures............................................................................... 75
Lithium Hydroxide CIF CJK (Fastmarkets) Futures.................................................................................. 76
Lithium Carbonate CIF CJK (Fastmarkets) Futures................................................................................ 77
Molybdenum Oxide (Platts) Futures.................................................................................................................78

OTHER METALS FUTURES CONTRACTSUXC Uranium U3O8 Futures.................................................................................................................................794

2023 Metals Product Guide and Calendar

Trading Hours
CME Globex:
Chicago (Central Time):
Sunday – Opens at 5:00 p.m. (for the next trade date) – 4:00 p.m. thefollowing day.
Monday through Friday – Opens at 5:00 p.m. (for the next trade date) –4:00 p.m. the next day.
Except on Friday – Closes at 4:00 p.m. and reopens Sundays at 5:00 p.m.
New York (Eastern Time):
Sunday – Opens at 6:00 p.m. (for the next trade date) - 5:00 p.m. the followingday.(for the next trade date) – 5:00 p.m. the following day.
Monday through Friday – Opens at 6:00 p.m.
(for the next trade date) – 5:00 p.m. the next day.
Except on Friday – Closes at 5:00 p.m. and reopens Sundays at 6:00 p.m.
London (GMT):
Sunday – Opens at 11:00 p.m. (for the next trade date) – 10:00 p.m. thefollowing day.
Monday through Friday – Opens at 11:00 p.m.
(for the next trade date) – 10:00 p.m. the next day.
Except on Friday – Closes at 10:00 p.m. and reopens Sundays at 11:00 p.m.
Singapore/Hong Kong (UTC/GMT+8):
Monday – Opens at 7:00 a.m. – 6:00 a.m. the following day.
Tuesday through Saturday – Opens at 7:00 a.m. – 6:00 a.m. the next day.
Except on Saturday – Closes at 6:00 a.m. and reopens Monday at 7:00 a.m.

5cmegroup.com/metals

CME ClearPort:
Chicago (Central Time):
Sunday through Friday – 5:00 p.m. – 4:00 p.m. with a 60-minute break eachday beginning at 4:00 p.m.
New York (Eastern Time):
Sunday through Friday – 5:00 p.m. – 4:00 p.m. with a 60-minute break eachday beginning at 4:00 p.m.
London (GMT):
Sunday through Friday – 11:00 p.m. – 10:00 p.m. the following day with a
60-minute break each day beginning at 10:00 p.m.
Singapore/Hong Kong (UTC/GMT+8):
Monday through Saturday – 7:00 a.m. – 6:00 a.m. the following day with a
60-minute break each day beginning at 6:00 a.m.

Note 1: for detailed trading hours by product, please visit
cmegroup.com/trading-hours.html#metals
Note 2: Times listed are when daylight saving time is not in effect.

62024 Metals Product Guide and Calendar

MetalsPRECIOUS METALS FUTURES AND OPTIONS CONTRACTSGOLD FUTURES
Product Code
CME Globex: GC
CME ClearPort: GC
Clearing: GC
TAS: GCT
TAM: GCD
Contract Size
100 troy ounces
Grade and Quality
Gold delivered under this contract shall assay to a minimum of 995 fineness.
Settlement
Deliverable
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Trading is conducted for delivery during the current calendar month; the next two calendar
months; any February, April, August, and October falling within a 23-month period; and any
June and December falling within a 72-month period beginning with the current month.
Termination of Trading
Trading terminates on the third last business day of the delivery month.
Trading at Settlement
Trading at Settlement (TAS) is allowed in the nearest five active contract months. The active
contract months will be February, April, June, August and December. TAS transactions may
be executed at the current day’s settlement price or at any valid price increment ten ticks
higher or lower than the settlement price.
Trade at Marker
Trading at Marker (TAM) is analogous to our existing Trading at Settlement (TAS) wherein
parties are permitted to trade at a differential that represents a not-yet-known price.
TAM trading will use a marker price, whereas TAS trading uses the Exchange-determinedsettlement price for the applicable contract month. As with TAS trading, parties enter TAM
orders at the TAM price or at a differential between one and ten ticks higher or lower than
the TAM price. Trading at Marker is available for the London p.m. Marker on the nearest
active month (February, April, June, August, December).
Delivery Period
Any business day of the delivery month7cmegroup.com/metals

GOLD KILO FUTURES
Product Code
CME Globex: GCK
CME ClearPort: GCK
Clearing: GCK
Contract Size
One kilogram (32.15 troy ounces)
Grade and Quality
Gold delivered under this contract shall assay to a minimum of 9999 fineness.
Settlement
Deliverable
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
The current calendar month, the next two calendar months, and each February, April, June,
August, October, and December falling within a 12-month period beginning with the current
contract month.
Termination of Trading
Three business days prior to the Delivery Day
Delivery Period
Third Wednesday of the delivery month82024 Metals Product Guide and Calendar

GOLD (ENHANCED DELIVERY) FUTURES
Product Code
CME Globex: 4GC
CME ClearPort: 4GC
Clearing: 4GC
Contract Size
100 troy ounces
Grade and Quality
Gold delivered under this contract shall assay to a minimum of 995 fineness.
Settlement
Deliverable
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Trading is conducted for delivery during the current calendar month; the next two calendar
months; any February, April, August, and October falling within a 23-month period; and any
June and December falling within a 72-month period beginning with the current month.
Termination of Trading
Trading terminates on the third last business day of the delivery month.
Delivery Procedure
Physical delivery via 100 troy ounce bars, kilo bars or 400 troy ounce bars. 400 troy ouncebars are deliverable via “Accumulated Certificates of Exchange” (ACE) certificates issued by
the CME Group Clearing House.
Delivery Period
Any business day of the delivery month9cmegroup.com/metals

MICRO GOLD FUTURES
Product Code
CME Globex: MGC
CME ClearPort: MGC
Clearing: MGC
TAS: MGT
Contract Size
10 troy ounces
Grade and Quality
Gold delivered under this contract shall assay to a minimum of 995 fineness.
Settlement
Deliverable
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Trading is conducted for delivery in any February, April, June, August, October, andDecember falling within a 24-month period for which a 100 Troy Ounce Gold Futurescontract is listed.
Termination of Trading
Trading terminates on the third last business day of the delivery month.
Trading at Settlement
Trading at Settlement (TAS) is allowed in the nearest three active contract months.
The active contract months will be February, April, June, August and December. TAS
transactions may be executed at the current day’s settlement price or at any valid priceincrement ten ticks higher or lower than the settlement price.

102024 Metals Product Guide and Calendar

E-MINI GOLD FUTURES
Product Code
CME Globex: QO
CME ClearPort: QO
Clearing: QO
Contract Size
50 troy ounces
Settlement
Financially Settled
Minimum Price Fluctuation$0.25 per troy ounce
Listed Contracts
Trading is conducted for delivery in any February, April, June, August, October, andDecember falling within a 24-month period for which a 100 Troy Ounce Gold Futurescontract is listed.
Termination of Trading
Trading terminates on the third last business day of the month preceding the delivery month.

11

cmegroup.com/metals

SILVER FUTURES
Product Code
CME Globex: SI
CME ClearPort: SI
Clearing: SI
TAS: SIT
Contract Size
5,000 troy ounces
Grade and Quality
Silver delivered under this contract shall assay to a minimum of 999 fineness.
Settlement
Deliverable
Minimum Price Fluctuation
Outright transactions: $0.005 per troy ounce. Straddle or spread transactions andsettlement prices: $0.001 per troy ounce.
Listed Contracts
Trading is conducted for delivery during the current calendar month; the next two calendar
months; any January, March, May, and September falling within a 23-month period; andany July and December falling within a 60-month period beginning with the current month.
Termination of Trading
Trading terminates on the third last business day of the delivery month.
Trading at Settlement
Trading at Settlement (TAS) is allowed in the nearest five active contract months. The active
contract months will be March, May, July, September and December. TAS transactions may
be executed at the current day’s settlement price or at any valid price increment ten ticks
higher or lower than the settlement price.
Delivery Period
Any business day of the delivery month122024 Metals Product Guide and Calendar

MICRO SILVER FUTURES
Product Code
CME Globex: SIL
CME ClearPort: SIL
Clearing: SIL
Contract Size
1,000 troy ounces
Grade and Quality
Silver delivered under this contract shall assay to a minimum of 999 fineness.
Settlement
Deliverable
Minimum Price Fluctuation
Outright transactions: $0.005 per troy ounce. Straddle or spread transactions andsettlement prices: $0.001 per troy ounce.
Listed Contracts
Current calendar month; the next two calendar months; any January, March, May, July,
September, and December falling within a 12-month period.
Termination of Trading
Third last business day of the contract month13cmegroup.com/metals

E-MINI SILVER FUTURES
Product Code
CME Globex: QI
CME ClearPort: QI
Clearing: QI
Contract Size
2,500 troy ounces
Settlement
Financially Settled
Minimum Price Fluctuation$0.0125 per troy ounce
Listed Contracts
Trading is conducted in any January, March, May, July, September, and December contract
month falling within the current 24-month period for which a 5,000 Troy Ounce Silver
Futures contract is listed.
Termination of Trading
Trading terminates on the third last business day of the month preceding the delivery
month.

14

2024 Metals Product Guide and Calendar

PLATINUM FUTURES
Product Code
CME Globex: PL
CME ClearPort: PL
Clearing: PL
TAS: PLT
Contract Size
50 troy ounces
Grade and Quality
Platinum delivered under this contract shall be a minimum of 99.95 pure.
Settlement
Deliverable
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Monthly contracts listed for 3 consecutive months and any Jan, Apr, Jul, and Oct in thenearest 36 months.
Termination of Trading
Trading terminates on the third last business day of the delivery month.
Trading at Settlement
Trading at Settlement (TAS) is allowed in the nearest two active contract months.
The active contract months are January, April, July and October. TAS transactions may
be executed at the current day’s settlement price or at any valid price increment ten ticks
higher or lower than the settlement price.
Delivery Period
Any business day of the delivery month15cmegroup.com/metals

MICRO PLATINUM FUTURES
Product Code
CME Globex: PLM
CME ClearPort: PLM
Clearing: PLM
Contract Size
10 troy ounces
Grade and Quality
Platinum delivered under this contract shall assay to a minimum of 99.95% fineness.
Settlement
Deliverable
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Trading is conducted for delivery in 3 consecutive months and any January, April, July, andOctober in the nearest 12 months.
Termination of Trading
Trading terminates on the third last business day of the delivery month.

16

2024 Metals Product Guide and Calendar

PALLADIUM FUTURES
Product Code
CME Globex: PA
CME ClearPort: PA
Clearing: PA
TAS: PAT
Contract Size
100 troy ounces
Grade and Quality
Palladium delivered under this contract shall be a minimum of 99.95 pure.
Settlement
Deliverable
Minimum Price Fluctuation
Outright transactions: $0.50 per troy ounce. Straddle or spread transactions andsettlement prices: $0.10 per troy ounce
Listed Contracts
Monthly contracts listed for 3 consecutive months and any Mar, Jun, Sep, Dec in the nearest
36 months
Termination of Trading
Trading terminates on the third last business day of the delivery month.
Trading at Settlement
Trading at Settlement is available in the first and second active contract month. The active
contract months are March, June, September, and December. TAS transactions may be
executed at the current day’s settlement price or at any valid price increment ten ticks
higher or lower than the settlement price.
Delivery Period
Any business day of the delivery month17cmegroup.com/metals

MICRO PALLADIUM FUTURES
Product Code
CME Globex: PAM
CME ClearPort: PAM
Clearing: PAM
Contract Size
10 troy ounces
Grade and Quality
Palladium delivered under this contract shall assay to a minimum of 99.95% fineness.
Settlement
Deliverable
Minimum Price Fluctuation
Outright transactions: $0.50 per troy ounce. Straddle or spread transactions andsettlement prices: $0.10 per troy ounce.
Listed Contracts
Trading is conducted for delivery in 3 consecutive months and any March, June, September
and December in the nearest 15 months.
Termination of Trading
Trading terminates on the third last business day of the delivery month.

18

2024 Metals Product Guide and Calendar

LONDON SPOT GOLD FUTURES
Product Code
CME Globex: GSP
CME ClearPort: GSP
Clearing: GSP
Inter-Commodity Spread (Spot Spread): GC:GSP
Contract Size
100 fine troy ounces
Grade and Quality
Gold delivered under this contract shall be gold which meets or exceeds the standards of
the London Bullion Market Association within its Good Delivery Rules and Good Delivery
Specifications for ‘Loco London’ delivery.
Settlement
Deliverable
Minimum Trade Price Fluctuation$0.10 per fine troy ounce
Minimum Daily and Final Settlement Price Fluctuation$0.01 per troy ounce
Minimum Spread Price Fluctuation
GC:GSP $0.01 per troy ounce
Listed Contracts
Trading in London Spot Gold futures is regularly conducted in Contract Days. Unlessotherwise determined by the Exchange, one Contract Day is made available for trading on
any given trading day. A Contract Day references the day of delivery.
Termination of Trading
Trading terminates at the close of business two London business days prior to thecontract day.
Delivery Period
Delivery Day shall be two London business days following the contract's trade date unlesssuch day is not also a banking day in New York, in which case the Delivery Day shall be thenext following day that is a banking day in both London and New York.

19

cmegroup.com/metals

LONDON SPOT SILVER FUTURES
Product Code
CME Globex: SSP
CME ClearPort: SSP
Clearing: SSP
Inter-Commodity Spread (Spot Spread): SI:SSP
Contract Size
5,000 fine troy ounces
Grade and Quality
Silver delivered under this contract shall be gold which meets or exceeds the standards of
the London Bullion Market Association within its Good Delivery Rules and Good Delivery
Specifications for ‘Loco London’ delivery.
Settlement
Deliverable
Minimum Trade Price Fluctuation$0.005 per fine troy ounce
Minimum Daily and Final Settlement Price Fluctuation$0.001 per troy ounce
Minimum Spread Price Fluctuation
SI:SSP $0.001 per troy ounce
Listed Contracts
Trading in London Spot Silver futures is regularly conducted in Contract Days. Unlessotherwise determined by the Exchange, one Contract Day is made available for trading on
any given trading day. A Contract Day references the day of delivery.
Termination of Trading
Trading terminates at the close of business two London business days prior to thecontract day.
Delivery Period
Delivery Day shall be two London business days following the contract's trade date unlesssuch day is not also a banking day in New York, in which case the Delivery Day shall be thenext following day that is a banking day in both London and New York.

20

2024 Metals Product Guide and Calendar

SHANGHAI GOLD (USD) FUTURES
Product Code
CME Globex: SGU
CME ClearPort: SGU
Clearing: SGU
Contract Size
32.15 troy ounces
Settlement
Financially Settled
Minimum Trade Price Fluctuation$0.10 per troy ounce
Minimum Daily Settlement Price Fluctuation$0.10 per troy ounce
Minimum Final Settlement Price Fluctuation$0.05 per troy ounce
Listed Contracts
Monthly contracts listed for 3 consecutive months and all February, April, June, August,October and December contracts in a 12-month period.
Floating Price
The Floating Price for each contract month shall be the closing price of the Shanghai Gold
Benchmark Price PM on the last trading day. The Shanghai Gold Benchmark Price PM shallbe converted to US Dollars per troy ounce using the USD/CNH rate as reported by EBSService Company Limited and using a conversion factor of 32.15 troy ounces per kilogram
and rounded to the nearest $0.05.
Termination of Trading
Trading terminates on the 3rd last U.S. business day of the contract month unless it is nota Chinese business day. If it is not a Chinese business day, trading terminates the previous
U.S. and China business day.

21

cmegroup.com/metals

SHANGHAI GOLD (CNH) FUTURES
Product Code
CME Globex: SGC
CME ClearPort: SGC
Clearing: SGC
Contract Size
1,000 grams
Settlement
Financially Settled
Minimum Trade Price Fluctuation$0.05 CNH per gram
Minimum Daily Settlement Price Fluctuation$0.05 CNH per gram
Minimum Final Settlement Price Fluctuation$0.01 CNH per gram
Listed Contracts
Monthly contracts listed for 3 consecutive months and all February, April, June, August,October and December contracts in a 12-month period.
Floating Price
The Floating Price for each contract month shall be the closing price of the Shanghai Gold
Benchmark Price PM on the last trading day.
Termination of Trading
Trading terminates on the 3rd last U.S. business day of the contract month unless it is nota Chinese business day. If it is not a Chinese business day, trading terminates the previous
U.S. and China business day

222024 Metals Product Guide and Calendar

GOLD OPTION
Product Code
CME Globex: OG
CME ClearPort: OG
Clearing: OG
Contract Unit
One COMEX Gold futures contract
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Gold futures options shall be listed for trading in each of the nearest twenty (20)consecutive futures contract months. In addition, June and December will be listed for 72
months from the current listed month.
Exercise Style
AmericanTermination of Trading
Expiration occurs four business days prior to the end of the month preceding the option
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.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Gold Futures
Exercise Month for Options
cmegroup.com/trading/metals/files/PM236_Metals_Option_Exercise.pdf

23cmegroup.com/metals

GOLD WEEKLY MONDAY OPTION
Product Code
CME Globex: G1M, G2M, G3M, G4M, G5M
CME ClearPort: G1M, G2M, G3M, G4M, G5M
Clearing: G1M, G2M, G3M, G4M, G5M
Contract Unit
One COMEX Gold futures contract
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Weekly contracts listed for 4 consecutive weeks.
No weekly contract listed if it would expire the business day after the expiration of themonthly option.
Exercise Style
AmericanTermination of Trading
Options will expire at the close of trading on a Monday schedule. If such Monday is an
Exchange holiday, the weekly option will not be listed for trading.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Gold Futures24

2024 Metals Product Guide and Calendar

GOLD WEEKLY WEDNESDAY OPTION
Product Code
CME Globex: G1W, G2W, G3W, G4W, G5W
CME ClearPort: G1W, G2W, G3W, G4W, G5W
Clearing: G1W, G2W, G3W, G4W, G5W
Contract Unit
One COMEX Gold futures contract
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Weekly contracts listed for 4 consecutive weeks.
No weekly contract listed if it would expire the business day after the expiration of themonthly option.
Exercise Style
AmericanTermination of Trading
Options will expire at the close of trading on a Wednesday schedule. If such Wednesday is
an Exchange holiday, the weekly option will not be listed for trading.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Gold Futures25

cmegroup.com/metals

GOLD WEEKLY FRIDAY OPTION
Product Code
CME Globex: OG1-OG5
CME ClearPort: OG1-OG5
Clearing: OG1-OG5
Contract Unit
One COMEX Gold futures contract
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Weekly contracts listed for 4 consecutive weeks.
No weekly contract listed if it would expire the business day after the expiration of themonthly option.
Exercise Style
AmericanTermination of Trading
Options will expire at the close of trading on a Friday schedule. If such Friday is an
Exchange holiday, the weekly option will not be listed for trading.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Gold Futures26

2024 Metals Product Guide and Calendar

SILVER OPTION
Product Code
CME Globex: SO
CME ClearPort: SO
Clearing: SO
Contract Unit
One COMEX Silver futures contract
Minimum Price Fluctuation$0.001 per troy ounce
Listed Contracts
Trading is conducted in (a) the nearest five of the following contract months: March,May, July, September, and December and (b) the nearest January, February, April, June,
August, October, and November such that a total of six consecutive calendar months
from and including the current listed futures contract month are listed at all times and (c)any July and December during a 60 month period from and including the current listed
contract month.
Exercise Style
AmericanTermination of Trading
Expiration occurs four business days prior to the end of the month preceding the option
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.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Silver Futures
Exercise Month for Options
cmegroup.com/trading/metals/files/PM236_Metals_Option_Exercise.pdf

27cmegroup.com/metals

SILVER WEEKLY MONDAY OPTION
Product Code
CME Globex: M1S, M2S, M3S, M4S, M5S
CME ClearPort: M1S, M2S, M3S, M4S, M5S
Clearing: M1S, M2S, M3S, M4S, M5S
Contract Unit
One COMEX Silver futures contract
Minimum Price Fluctuation$0.001 per troy ounce
Listed Contracts
Weekly contracts listed for 4 consecutive weeks.
No weekly contract listed if it would expire the business day after the expiration of themonthly option.
Exercise Style
AmericanTermination of Trading
Options will expire at the close of trading on a Monday schedule. If such Monday is an
Exchange holiday, the weekly option will not be listed for trading.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Silver Futures28

2024 Metals Product Guide and Calendar

SILVER WEEKLY WEDNESDAY OPTION
Product Code
CME Globex: W1S, W2S, W3S, W4S, W5S
CME ClearPort: W1S, W2S, W3S, W4S, W5S
Clearing: W1S, W2S, W3S, W4S, W5S
Contract Unit
One COMEX Silver futures contract
Minimum Price Fluctuation$0.001 per troy ounce
Listed Contracts
Weekly contracts listed for 4 consecutive weeks.
No weekly contract listed if it would expire the business day after the expiration of themonthly option.
Exercise Style
AmericanTermination of Trading
Options will expire at the close of trading on a Wednesday schedule. If such Wednesday is
an Exchange holiday, the weekly option will not be listed for trading.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Silver Futures29

cmegroup.com/metals

SILVER WEEKLY FRIDAY OPTION
Product Code
CME Globex: SO1-SO5
CME ClearPort: SO1-SO5
Clearing: SO1-SO5
Contract Unit
One COMEX Silver futures contract
Minimum Price Fluctuation$0.001 per troy ounce
Listed Contracts
Weekly contracts listed for 4 consecutive weeks.
No weekly contract listed if it would expire the business day after the expiration of themonthly option.
Exercise Style
AmericanTermination of Trading
Options will expire at the close of trading on a Friday schedule. If such Friday is an
Exchange holiday, the weekly option will not be listed for trading.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Silver Futures30

2024 Metals Product Guide and Calendar

PLATINUM OPTION
Product Code
CME Globex: PO
CME ClearPort: PO
Clearing: PO
Contract Unit
One NYMEX Platinum futures contract
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Monthly contracts listed for 3 consecutive months and any Jan, Apr, Jul, Oct in the nearest
36 months for which the underlying futures contract is listed.
Exercise Style
AmericanTermination of Trading
Expiration occurs at the close of trading on the third Wednesday of the month preceding
the option contract month. In the event that such business day precedes an Exchange
holiday, the expiration date shall be the preceding business day.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Platinum Futures
Exercise Month for Options
cmegroup.com/trading/metals/files/PM236_Metals_Option_Exercise.pdf

31cmegroup.com/metals

PALLADIUM OPTION
Product Code
CME Globex: PAO
CME ClearPort: PAO
Clearing: PAO
Contract Unit
One NYMEX Palladium Futures
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Monthly contracts listed for 3 consecutive months and any Mar, Jun, Sep, Dec in the nearest
36 months for which the underlying futures contract is listed.
Exercise Style
AmericanTermination of Trading
Expiration occurs at the close of trading on the third Wednesday of the month preceding
the option contract month. In the event that such business day precedes an Exchange
holiday, the expiration date shall be the preceding business day.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Palladium Futures
Exercise Month for Options
cmegroup.com/trading/metals/files/PM236_Metals_Option_Exercise.pdf

322024 Metals Product Guide and Calendar

MICRO GOLD OPTION
Product Code
CME Globex: OMG
CME ClearPort: OMG
Clearing: OMG
Contract Unit
One COMEX Micro Gold futures contract
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Monthly contracts listed for the nearest twenty (20) consecutive months
Exercise Style
AmericanTermination of Trading
Trading terminates on the fourth last business day of the month preceding the delivery
month. If the fourth last business day occurs on a Friday or the day before a holiday,
trading terminates on the prior business day
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Underlying
Micro Gold Futures
Exercise Month for Options
cmegroup.com/trading/metals/files/PM236_Metals_Option_Exercise.pdf

33cmegroup.com/metals

MICRO GOLD WEEKLY MONDAY OPTION
Product Code
CME Globex: 1MG, 2MG, 3MG, 4MG, 5MG
CME ClearPort: 1MG, 2MG, 3MG, 4MG, 5MG
Clearing: 1MG, 2MG, 3MG, 4MG, 5MG
Contract Unit
One COMEX Micro Gold futures contract
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Weekly contracts listed for 4 consecutive weeks.
Exercise Style
AmericanTermination of Trading
Options will expire at the close of trading on a Monday schedule. If such Monday is an
Exchange holiday, the weekly option will not be listed for trading.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Underlying
Micro Gold Futures34

2024 Metals Product Guide and Calendar

MICRO GOLD WEEKLY WEDNESDAY OPTION
Product Code
CME Globex: 1WG, 2WG, 3WG, 4WG, 5WG
CME ClearPort: 1WG, 2WG, 3WG, 4WG, 5WG
Clearing: 1WG, 2WG, 3WG, 4WG, 5WG
Contract Unit
One COMEX Micro Gold futures contract
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Weekly contracts listed for 4 consecutive weeks.
Exercise Style
AmericanTermination of Trading
Options will expire at the close of trading on a Wednesday schedule. If such Wednesday is
an Exchange holiday, the weekly option will not be listed for trading.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Underlying
Micro Gold Futures35

cmegroup.com/metals

MICRO GOLD WEEKLY FRIDAY OPTION
Product Code
CME Globex: 1FG, 2FG, 3FG, 4FG, 5FG
CME ClearPort: 1FG, 2FG, 3FG, 4FG, 5FG
Clearing: 1FG, 2FG, 3FG, 4FG, 5FG
Contract Unit
One COMEX Micro Gold futures contract
Minimum Price Fluctuation$0.10 per troy ounce
Listed Contracts
Weekly contracts listed for 4 consecutive weeks.
Exercise Style
AmericanTermination of Trading
Options will expire at the close of trading on a Friday schedule. If such Friday is an
Exchange holiday, the weekly option will not be listed for trading.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Underlying
Micro Gold Futures36

2024 Metals Product Guide and Calendar

CLEARED OTC LONDON GOLD FORWARDS (CASH MARGIN)
Product Code
CME ClearPort: GBC
Clearing: GBC
Contract Unit
.001 troy ounces
Minimum Price Fluctuation$0.001 per troy ounce
Termination of Trading
Trades can be submitted for clearing through CME ClearPort up to and including one goodbusiness day prior to the delivery date.
Delivery Period
London Good Delivery as specified by the LBMA at unallocated accounts held at LPMCL
member banks. Delivery can be made on any good business day in the LBMA calendar,with a maximum available maturity of 10 years from spot.

37

cmegroup.com/metals

CLEARED OTC LONDON SILVER FORWARDS (CASH MARGIN)
Product Code
CME ClearPort: LSF
Clearing: LSF
Contract Unit
.001 troy ounces
Minimum Price Fluctuation$0.001 per troy ounce
Termination of Trading
Trades can be submitted for clearing through CME ClearPort up to and including one goodbusiness day prior to the delivery date.
Delivery Period
London Good Delivery as specified by the LBMA at unallocated accounts held at LPMCL
member banks. Delivery can be made on any good business day in the LBMA calendar,with a maximum available maturity of 5 years from spot.

38

2024 Metals Product Guide and Calendar

Metals
BASE METALS FUTURES AND OPTIONS CONTRACTS

COPPER FUTURES
Product Code
CME Globex: HG
CME ClearPort: HG
Clearing: HG
TAS: HGT; HG0
TAM: HGF
Contract Size
25,000 pounds
Grade and Quality
The contract (basis) grade for the Grade 1 copper contract shall be Grade 1 Electrolytic
Copper Cathodes (full plate or cut) and shall conform to the specifications (as to chemicaland physical requirements) for Grade 1 Electrolytic Copper Cathode as adopted by theAmerican Society for Testing and Materials (B115-00), or its latest revision.
Settlement
Deliverable
Minimum Price Fluctuation$0.0005 per pound
Listed Contracts
Trading is conducted for delivery during the current calendar month, the next 23 calendar
months, and any March, May, July, September, and December falling within a 63-month
period beginning with the current month.
Termination of Trading
Trading terminates on the third last business day of the delivery month.
Trading at Settlement
Trading at Settlement is available for the nearest four active contract months (HGT). The
active contract months are March, May, July, September and December. TAS transactions
may be executed at the current day's settlement price or at any valid price increment ten
ticks higher or lower than the settlement price. TAS is also available in the spot month(HG0). Spot month TAS transactions are only permitted at the settlement price (flat or zero).
Delivery Period
Any business day of the delivery month
Trade at Marker
Trading at Marker (TAM) is analogous to our existing Trading at Settlement (TAS) wherein
parties are permitted to trade at a differential that represents a not-yet-known price.
TAM trading will use a marker price, whereas TAS trading uses the Exchange-determinedsettlement price for the applicable contract month. As with TAS trading, parties enter TAM
orders at the TAM price or at a differential between one and ten ticks higher or lower than
the TAM price. Trading at Marker is available for the Copper London Marker on the nearest
active month (March, May, July, September, December).
39

cmegroup.com/metals

MICRO COPPER FUTURES
Product Code
CME Globex: MHG
CME ClearPort: MHG
Clearing: MHG
Contract Size
2,500 pounds
Grade and Quality
Copper delivered under this contract shall be Grade 1 Electrolytic Copper Cathodes(full plate or cut) and shall conform to the specifications (as to chemical and physicalrequirements) for Grade 1 Electrolytic Copper Cathode as adopted by the American Society
for Testing and Materials (B115-00), or its latest revision.
Settlement
Deliverable
Minimum Price Fluctuation$0.0005 per pound = $1.25
Listed Contracts
Trading is conducted for delivery for 23 consecutive months and any March, May, July,
September and December in the nearest 63 months.
Termination of Trading
Trading terminates on the third last business day of the delivery month.

40

2024 Metals Product Guide and Calendar

COPPER FINANCIAL FUTURES
Product Code
CME Globex: HGS
CME ClearPort: HGS
Clearing: HGS
Contract Size
25,000 pounds
Settlement
Financially Settled
Minimum Price Fluctuation$0.0001 per pound
Listed Contracts
Trading is conducted for delivery during the current calendar month, the next 22 calendar
months, and any March, May, July, September, and December falling within a 60-month
period beginning with the current month for which a Copper Futures contract is listed.
Termination of Trading
Trading terminates on the last business day of the contract month (follows the US banking
holiday schedule).

41

cmegroup.com/metals

E-MINI COPPER FUTURES
Product Code
CME Globex: QC
CME ClearPort: QC
Clearing: QC
Contract Size
12,500 pounds
Settlement
Financially Settled
Minimum Price Fluctuation$0.002 per pound
Listed Contracts
Trading is conducted during the same months as the full-sized Copper futures contract(HG), except the current month.
Termination of Trading
Trading terminates on the third last business day of the month preceding the delivery month.

42

2024 Metals Product Guide and Calendar

COPPER PREMIUM GRADE A CIF SHANGHAI (METAL BULLETIN) FUTURES
Product Code
CME Globex: CUP
CME ClearPort: CUP
Clearing: CUP
Contract Size
25 metric tons
Settlement
Financially Settled
Minimum Price Fluctuation$0.25 per metric ton
Listed Contracts
Monthly contracts listed for 18 consecutive months
Floating Price
The Floating Price for each contract month shall be equal to the arithmetic averagecalculated to two decimal places of each available daily midpoint of the Copper GradeA cathode Cif Shanghai, US$/metric tonne for that given calendar month published by
Fastmarkets MB.
Termination of Trading
Trading terminates on the last business day of the month43

cmegroup.com/metals

ALUMINUM FUTURES
Product Codes
CME Globex: ALI
CME ClearPort: ALI
Clearing: ALI
Contract Size
25 metric tons
Grade and Quality
Aluminum delivered under this contract must be primary aluminum meeting all of therequirements of the P1020A in the North American and International Registration Record
entitled “International Designation and Chemical Composition Limits for Unalloyed
Aluminum” (revised March 2007), or its latest revision. Aluminum Futures is a duty-unpaid
contract. Eligible aluminum shall be either duty paid or duty unpaid.
Settlement
Deliverable
Minimum Price Fluctuation$0.25 per metric ton
Listed Contracts
60 consecutive months
Termination of Trading
Third last business day of the contract month
Delivery Period
Any business day of the delivery month442024 Metals Product Guide and Calendar

ZINC FUTURES
Product Code
CME Globex: ZNC
CME ClearPort: ZNC
Clearing: ZNC
Contract Size
25 metric tons
Grade and Quality
Zinc is a duty unpaid contract. Zinc delivered under this contract must be Special
HighGrade zinc of 99.995% purity and meeting the chemical composition of either ASTM
B6-12 (Standard Specification for Zinc), BS EN 1179:2003 (Zinc and Zinc Alloys), ISO 752:2004(Zinc ingots), or GB/T 470-2008 (Zinc ingots). Zinc Futures is a duty-unpaid contract. Eligible
zinc shall be either duty paid or duty unpaid.
Settlement
Deliverable
Minimum Price Fluctuation$0.50 per metric ton
Listed Contracts
12 consecutive months
Termination of Trading
Third last business day of the contract month
Delivery Period
Any business day of the delivery month45

cmegroup.com/metals

LEAD FUTURES
Product Code
CME Globex: LED
CME ClearPort: LED
Clearing: LED
Contract Size
25 metric tons
Grade and Quality
Refined lead (minimum 99.970% purity) and meeting the chemical composition of either
ASTM B29-03 (2009 Standard entitled “Standard Specification for Refined Lead (permitted
grades: 99.97% and 99.995%), BS EN 12659:1999 Standard entitled “Lead and Lead
Alloys- Lead (permitted grades: Material numbers PB970R, PB985R and PB990R), or GB/T
469-2005 Standard entitled “Lead Ingots” (permitted grades: 99.970%, 99.985%, 99.990%
and 99.994%).
Settlement
Deliverable
Minimum Price Fluctuation$0.50 per metric ton
Listed Contracts
12 consecutive months
Termination of Trading
Trading terminates on the third last business day of the contract month.
Delivery Period
Any business day of the delivery month46

2024 Metals Product Guide and Calendar

ALUMINUM MW U.S. TRANSACTION PREMIUM PLATTS (25MT) FUTURES
Product Code
CME Globex: AUP
CME ClearPort: AUP
Clearing: AUP
Contract Size
55,116 pounds (equivalent to 25 metric tons)
Settlement
Financially Settled
Minimum Price Fluctuation$0.00001 per pound
Listed Contracts
60 consecutive months
Floating Price
The Floating Price for each contract month is equal to the average price calculated for all
available price assessments published for Aluminum MW US Transaction Premium for thatgiven calendar month by S&P Global Platts.
Termination of Trading
Trading terminates on the last business day of the contract month.

47

cmegroup.com/metals

ALUMINIUM EUROPEAN PREMIUM DUTY-UNPAID (METAL BULLETIN) FUTURES
Product Code
CME Globex: AEP
CME ClearPort: AEP
Clearing: AEP
Contract Size
25 metric tons
Settlement
Financially Settled
Minimum Price Fluctuation
0.01 per metric ton
Listed Contracts
Monthly contracts listed for the current year and the next 3 calendar years. Monthly
contracts for a new calendar year will be added following the termination of trading in the
December contract of the current year.
Floating Price
The Floating Price for each contract month shall be equal to the arithmetic averagecalculated to two decimal places of each daily mid-point of the Metal Bulletin Aluminium
P1020A, in-whs dup Rotterdam, $/tonne for each day during the contract month publishedby Fastmarkets MB.
Termination of Trading
Trading terminates on the last business day of the contract month.

48

2024 Metals Product Guide and Calendar

ALUMINIUM EUROPEAN PREMIUM DUTY-PAID (METAL BULLETIN) FUTURES
Product Code
CME Globex: EDP
CME ClearPort: EDP
Clearing: EDP
Contract Size
25 metric tons
Settlement
Financially Settled
Minimum Price Fluctuation
0.01 per metric ton
Listed Contracts
Monthly contracts listed for the current year and the next 3 calendar years. Monthly
contracts for a new calendar year will be added following the termination of trading in the
December contract of the current year.
Floating Price
The Floating Price for each contract month shall be equal to the arithmetic averagecalculated to two decimal places of each twice weekly mid-point of the Metal Bulletin
Aluminium P1020A, in-whs dp Rotterdam, $/tonne for each day during the contract monthpublished by Fastmarkets MB.
Termination of Trading
Trading terminates on the last business day of the contract month.

49

cmegroup.com/metals

ALUMINUM JAPAN PREMIUM (PLATTS) FUTURES
Product Code
CME Globex: MJP
CME ClearPort: MJP
Clearing: MJP
Contract Size
25 metric tons
Settlement
Financially Settled
Minimum Price Fluctuation$0.01 per metric ton
Listed Contracts
Monthly contracts listed for the current year and the next 2 calendar years. Monthly
contracts for a new calendar year will be added following the termination of trading in the
December contract of the current year.
Floating Price
The Floating Price for each contract month shall be equal to the arithmetic average ofthe mid-point of the high and low quotations of the "Aluminum CIF Japan Premium ($/mt)"
price assessment published in Platts Metal Daily for each day that it is determined during
the contract month.
Termination of Trading
Trading terminates on the last business day of the contract month.

50

2024 Metals Product Guide and Calendar

ALUMINUM A380 ALLOY (PLATTS) FUTURES
Product Code
CME Globex: A38
CME ClearPort: A38
Clearing: A38
Contract Size
44,092 pounds (equivalent to 20 metric tons)
Settlement
Financially Settled
Minimum Price Fluctuation$0.00001 per pound
Listed Contracts
Monthly contracts listed for the current year and the next calendar year. Monthly contracts
for a new calendar year will be added following the termination of trading in the December
contract of the current year.
Floating Price
The Floating Price for each contract month is equal to the average price calculated for all
available price assessments published for Aluminum A-380 Alloy, cents/lb. for that given
calendar month by S&P Global Platts.
Termination of Trading
Trading terminates on the last business day of the contract month.

51

cmegroup.com/metals

ALUMINA FOB AUSTRALIA (PLATTS) FUTURES
Product Code
CME Globex: ALA
CME ClearPort: ALA
Clearing: ALA
Contract Size
100 metric tons
Settlement
Financially Settled
Minimum Price Fluctuation$0.01 per metric ton
Listed Contracts
Monthly contracts listed for the current year and the next two calendar years. Monthly
contracts for a new calendar year will be added following the termination of trading in the
December contract of the current year.
Floating Price
The Floating Price for each contract month shall be equal to the arithmetic averagecalculated to two decimal places of each available daily price Index published for Alumina
FOB Australia US$/ metric tons for that given calendar month by S&P Global Platts.
Termination of Trading
Trading terminates on the day of the last index published price of the contract month.

52

2024 Metals Product Guide and Calendar

ALUMINA FOB AUSTRALIA (METAL BULLETIN) FUTURES
Product Code
CME Globex: ALB
CME ClearPort: ALB
Clearing: ALB
Contract Size
100 metric tons
Settlement
Financially Settled
Minimum Price Fluctuation$0.01 per metric ton
Listed Contracts
Monthly contracts listed for the current year and the next two calendar years. Monthly
contracts for a new calendar year will be added following the termination of trading in the
December contract of the current year.
Floating Price
The Floating Price for each contract month shall be equal to the arithmetic averagecalculated to two decimal places of all available price assessments published for Alumina
index fob Australia, $/tonne for that given calendar month by Fastmarkets MB.
Termination of Trading
Trading terminates on the day of the last index published price of the contract month.

53

cmegroup.com/metals

COPPER OPTION
Product Code
CME Globex: HXE
CME ClearPort: HX
Clearing: HXContract Unit
One COMEX Copper futures contract
Minimum Price Fluctuation$0.0005 per pound
Listed Contracts
Monthly contracts listed for 22 consecutive months
Exercise Style
AmericanTermination of Trading
Expiration occurs four business days prior to the end of the month preceding the option
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.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Copper Futures
Exercise Month for Options
cmegroup.com/trading/metals/files/PM236_Metals_Option_Exercise.pdf

542024 Metals Product Guide and Calendar

COPPER WEEKLY MONDAY OPTION
Product Code
CME Globex: H1M, H2M, H3M, H4M, H5M
CME ClearPort: H1M, H2M, H3M, H4M, H5M
Clearing: H1M, H2M, H3M, H4M, H5M
Contract Unit
One COMEX Copper futures contract
Minimum Price Fluctuation$0.0005 per pound
Listed Contracts
Weekly contracts listed for 4 consecutive weeks.
No weekly contract listed if it would expire the business day after the expiration of themonthly option.
Exercise Style
AmericanTermination of Trading
Options will expire at the close of trading on a Monday schedule. If such Monday is an
Exchange holiday, the weekly option will not be listed for trading.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Copper Futures55

cmegroup.com/metals

COPPER WEEKLY WEDNESDAY OPTION
Product Code
CME Globex: H1W, H2W, H3W, H4W, H5W
CME ClearPort: H1W, H2W, H3W, H4W, H5W
Clearing: H1W, H2W, H3W, H4W, H5W
Contract Unit
One COMEX Copper futures contract
Minimum Price Fluctuation$0.0005 per pound
Listed Contracts
Weekly contracts listed for 4 consecutive weeks.
No weekly contract listed if it would expire the business day after the expiration of themonthly option.
Exercise Style
AmericanTermination of Trading
Options will expire at the close of trading on a Wednesday schedule. If such Wednesday is
an Exchange holiday, the weekly option will not be listed for trading.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Copper Futures56

2024 Metals Product Guide and Calendar

COPPER WEEKLY FRIDAY OPTION
Product Code
CME Globex: H1E-H5E
CME ClearPort: H1E-H5E
Clearing: H1E-H5E
Contract Unit
One COMEX Copper futures contract
Minimum Price Fluctuation$0.0005 per pound
Listed Contracts
Weekly contracts listed for 4 consecutive weeks.
No weekly contract listed if it would expire the business day after the expiration of themonthly option.
Exercise Style
AmericanTermination of Trading
Options will expire at the close of trading on a Friday schedule. If such Friday is an
Exchange holiday, the weekly option will not be listed for trading.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Copper Futures57

cmegroup.com/metals

COPPER AVERAGE PRICE OPTION
Product Code
CME Globex: CAP
CME ClearPort: CAP
Clearing: CAP
Contract Unit
25,000 pounds
Minimum Price Fluctuation$0.0001 per pound
Listed Contracts
23 consecutive months for which a COMEX Copper Financial Futures contract is listed
Exercise Style
European-style option cash settled only on expiration day
Termination of Trading
Expiration occurs at the close of trading on the last business day of the contract month.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Financial
Underlying
Copper Financial Futures582024 Metals Product Guide and Calendar

ALUMINUM OPTION
Product Code
CME Globex: AX
CME ClearPort: AX
Clearing: AX
Contract Unit
One COMEX Aluminum futures contract
Minimum Price Fluctuation$0.25 per metric ton
Listed Contracts
Monthly contracts listed for 12 consecutive months
Exercise Style
AmericanTermination of Trading
Expiration occurs four business days prior to the end of the month preceding the option
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.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Deliverable
Underlying
Aluminum Futures
Exercise Month for Options
cmegroup.com/trading/metals/files/PM236_Metals_Option_Exercise.pdf

59cmegroup.com/metals

ALUMINUM MW U.S. TRANSACTION PREMIUM PLATTS (25MT) AVERAGE PRICE OPTION
Product Code
CME Globex: ALO
CME ClearPort: ALO
Clearing: ALO
Contract Unit
55,116 pounds
Minimum Price Fluctuation$0.00001 per pound
Listed Contracts
Monthly contracts listed for 60 consecutive months. Add new contract month after
nearby expiry.
Exercise Style
European-style option cash settled only on expiration day
Termination of Trading
Expiration occurs at the close of trading on the last business day of the contract month.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Financial
Underlying
Aluminum MW U.S. Transaction Premium Platts (25MT) Futures60

2024 Metals Product Guide and Calendar

MetalsFERROUS METALS FUTURES AND OPTIONS CONTRACTS

IRON ORE 62% FE, CFR CHINA (TSI) FUTURES
Product Code
CME Globex: TIO
CME ClearPort: TIO
Clearing: TIO
Contract Size
500 dry metric tons
Settlement
Financially Settled
Minimum Price Fluctuation$0.01 per dry metric ton
Listed Contracts
Monthly contracts listed for the current year and the next 3 calendar years. Monthly
contracts for a new calendar year will be added following the termination of trading in the
December contract of the current year.
Floating Price
The floating price for each contract month is equal to the average price calculated for all
available price assessments published for "Iron ore fines 62% Fe - CFR China Port" for thatgiven calendar month by The Steel Index.
Termination of Trading
Trading terminates on the last business day of the contract month. Business days are basedon the Singapore Public Holiday calendar. If the last business day of the contract monthis a Singapore Public Holiday, the last trade date will be the business day immediately
preceding the holiday.

61cmegroup.com/metals

IRON ORE CHINA PORTSIDE FINES CNH FOT QINGDAO (ARGUS) FUTURES
Product Code
CME Globex: PAC
CME ClearPort: PAC
Clearing: PAC
Contract Size
100 wet metric tons
Settlement
Financially Settled
Minimum Price Fluctuation¥0.1 per wet metric ton
Listed Contracts
Monthly contracts listed for 12 consecutive months
Floating Price
The Floating Price for each contract month is equal to the average price calculated for
all available price assessments published for “Iron ore portside fines 62% Fe (PCX) fot
Qingdao” by ARGUS in the contract month.
Termination of Trading
Trading terminates on the last Singapore business day of the contract month. If such day
in not an Exchange business day, the contract will terminate on the Exchange business day
immediately prior.

62

2024 Metals Product Guide and Calendar

IRON ORE CHINA PORTSIDE FINES USD SEABORNE EQUIVALENT (ARGUS) FUTURES
Product Code
CME Globex: PAU
CME ClearPort: PAU
Clearing: PAU
Contract Size
100 dry metric tons
Settlement
Financially Settled
Minimum Price Fluctuation$0.01 per wet metric ton
Listed Contracts
Monthly contracts listed for 12 consecutive months
Floating Price
The Floating Price for each contract month is equal to the average price calculated for
all available price assessments published for “Iron ore portside fines 62% Fe (PCX) fot
Qingdao” by ARGUS in the contract month.
Termination of Trading
Trading terminates on the last Singapore business day of the contract month. If such day
in not an Exchange business day, the contract will terminate on the Exchange business day
immediately prior.

63

cmegroup.com/metals

U.S. MIDWEST DOMESTIC HOT-ROLLED COIL STEEL (CRU) INDEX FUTURES
Product Code
CME Globex: HRC
CME ClearPort: HR
Clearing: HR
Contract Size
20 short tons
Settlement
Financially Settled
Minimum Price Fluctuation$1.00 per short ton
Listed Contracts
Monthly contracts listed for the current year and the next 3 calendar years. Monthly
contracts for a new calendar year will be added following the termination of trading in the
December contract of the current year.
Floating Price
The floating price for each contract month is equal to the average price calculated for
all available price assessments published for that given month by the CRU U.S. Midwest
Domestic Hot-Rolled Coil Steel Index.
Termination of Trading
Trading terminates on the business day prior to the last Wednesday of the named contract
month.

64

2024 Metals Product Guide and Calendar

U.S. MIDWEST DOMESTIC HOT-ROLLED COIL STEEL (PLATTS) FUTURES
Product Code
CME Globex: HRP
CME ClearPort: HRP
Clearing: HRP
Contract Size
20 short tons
Settlement
Financially Settled
Minimum Price Fluctuation$1.00 per short ton
Listed Contracts
Monthly contracts listed for the current year and the next 3 calendar years. Monthly
contracts for a new calendar year will be added following the termination of trading in the
December contract of the current year.
Floating Price
The floating price for each contract month is equal to the arithmetic average of the Platts
TSI HRC US EXW Indiana price assessment calculated for all available price assessments
published in the contract month.
Termination of Trading
Trading terminates on the last business day of the contract month.

65

cmegroup.com/metals

U.S. MIDWEST #1 BUSHELING FERROUS SCRAP (AMM) FUTURES
Product Code
CME Globex: BUS
CME ClearPort: BUS
Clearing: BUS
Contract Size
20 gross tons
Settlement
Financially Settled
Minimum Price Fluctuation$1.00 per gross ton
Listed Contracts
24 consecutive months
Floating Price
The Floating Price for each contract month is equal to the price assessment published on
the 10th of that given calendar month for the Steel scrap No. 1 busheling index, delivered
Midwest mill, $/gross ton by Fastmarkets AMM. If 10th falls into a holiday or weekend, theprice will settle on the immediately following business day.
Termination of Trading
10th of the month, if 10th is a holiday/weekend, it will settle on the immediate following
business day.

66

2024 Metals Product Guide and Calendar

U.S. MIDWEST SHREDDED SCRAP (PLATTS) FUTURES
Product Code
CME Globex: SHR
CME ClearPort: SHR
Clearing: SHR
Contract Size
20 gross tons
Settlement
Financially Settled
Minimum Price Fluctuation$1.00 per gross ton
Listed Contracts
Monthly contracts listed for 24 consecutive months. A monthly contract will be added
following the termination of trading in the spot month contract.
Floating Price
The floating price for each contract month is equal to the final daily print of the Platts
Shredded Delivered US Midwest price assessment in the contract month.
Termination of Trading
Trading terminates on the last business day of the first week, that begins on a Monday, ofthe contract month.

67

cmegroup.com/metals

HMS 80/20 FERROUS SCRAP, CFR TURKEY (PLATTS TSI) FUTURES

Product Code
CME Globex: FSF
CME ClearPort: FSF
Clearing: FSF
Contract Size
10 metric tons
Settlement
Financially Settled
Minimum Price Fluctuation
The trading and daily settlement minimum price fluctuation shall be $1.00 per metric ton.
The final settlement minimum price fluctuation shall be $.0.01 per metric ton.
Listed Contracts
Trading is conducted in 24 consecutive months.
Floating Price
The Floating Price for each contract month is equal to the average price calculated for all
available price assessments published for “HMS 80/20 Ferrous Scrap – CFR Turkish Port” forthat given calendar month by Platts.
Termination of Trading
Trading terminates on the last business day of the contract month (follows the UK banking
holiday schedule).

682024 Metals Product Guide and Calendar

NORTH EUROPEAN HOT-ROLLED COIL STEEL (ARGUS) FUTURES
Product Code
CME Globex: EHR
CME ClearPort: EHR
Clearing: EHR
Contract Size
20 metric tons
Settlement
Financially Settled
Minimum Price Fluctuation$1.00 per metric ton
Listed Contracts
Trading is conducted in 18 consecutive months
Floating Price
The Floating Price for each contract month is equal to the average price calculated for all
available price assessments published for “HRC EXW Ruhr/ Northern Europe” by ARGUS forthat calendar month.
Termination of Trading
Trading terminates on the last London business day of the contract month. If this is not an
U.S. business day, trading terminates on the prior London and U.S. business day.

69

cmegroup.com/metals

U.S. MIDWEST DOMESTIC STEEL PREMIUM (CRU) FUTURES
Product Code
CME Globex: HDG
CME ClearPort: HDG
Clearing: HDG
Contract Size
20 tons
Settlement
Financially Settled
Minimum Price Fluctuation$1.00 per ton
Listed Contracts
Trading is conducted in the current year and the next 3 calendar years. List monthly
contracts for a new calendar year following the termination of trading in the December
contract of the current year.
Floating Price
The Floating Price for each contract month is equal to the average price calculated for
all available price assessments published for that given month by CRU Group for U.S.
Midwest Hot-Dipped Galvanized Coil (Base) Steel minus the average price calculated for all
available price assessments published for that given month by CRU Group for U.S. Midwest
Domestic Hot-Rolled Coil Steel.
Termination of Trading
Trading terminates on the business day prior to the last Wednesday of the contract month.

70

2024 Metals Product Guide and Calendar

IRON ORE 62% FE, CFR CHINA (TSI) AVERAGE PRICE OPTION
Product Code
CME Globex: ICT
CME ClearPort: ICT
Clearing: ICT
Contract Unit
500 dry metric tons
Minimum Price Fluctuation$0.01 per dry metric ton
Listed Contracts
Monthly contracts listed for the current year and the next 3 calendar years. List monthly
contracts for a new calendar year following the termination of trading in the December
contract of the current year.
Exercise Style
EuropeanTermination of Trading
Trading terminates on the last business day of the contract month. Business days are basedon the Singapore Public Holiday calendar. If the last business day of the contract monthis a Singapore public holiday, the last trade date will be the business day immediately
preceding the holiday.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Financial
Underlying
Iron Ore 62% Fe, CFR China (TSI) Futures71cmegroup.com/metals

U.S. MIDWEST DOMESTIC HOT-ROLLED COIL STEEL (CRU) INDEX AVERAGE PRICE OPTION
Product Code
CME Globex: HRO
CME ClearPort: HRO
Clearing: HRO
Contract Unit
20 short tons
Minimum Price Fluctuation$0.25 per ton
Listed Contracts
Monthly contracts listed for the current year and the next 3 calendar years. Monthly
contracts for a new calendar year will be added following the termination of trading in the
December contract of the current year.
Exercise Style
EuropeanTermination of Trading
Trading terminates on the business day prior to the last Wednesday of the named
contract month.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Financial
Underlying
U.S. Midwest Domestic Hot-Rolled Coil Steel (CRU) Index Futures72

2024 Metals Product Guide and Calendar

NORTH EUROPEAN HOT-ROLLED COIL STEEL (ARGUS) AVERAGE PRICE OPTION
Product Code
CME Globex: EHO
CME ClearPort: EHO
Clearing: EHO
Contract Unit
20 metric tons
Minimum Price Fluctuation$1.00 per metric ton
Listed Contracts
Monthly contracts listed for 18 consecutive months.
Exercise Style
EuropeanTermination of Trading
Trading terminates on the last London business day of the named contract month. If this is
not a U.S. business day, trading terminates on the prior London and U.S. business day.
Strike Prices/Strike Price Intervals
Transactions shall be conducted for option contracts as set forth in Rule 300.20.
Settlement
Financial
Underlying
North European Hot-Rolled Coil Steel (ARGUS) Futures73cmegroup.com/metals

MetalsBATTERY METALSCOBALT METAL (FASTMARKETS) FUTURES
Product Code
CME Globex: COB
CME ClearPort: COB
Clearing: COB
Contract Size
2204.62 pounds
Settlement
Financially Settled
Minimum Price Fluctuation$0.01 per pound
Listed Contracts
Trading is conducted in the current year and next 4 calendar years. List monthly contracts
for a new calendar year following the termination of trading in the December contract of
the current year.
Floating Price
The Floating Price for each contract month is equal to the arithmetic average of allavailable price assessments published for “Cobalt standard grade, in-whs Rotterdam,
mid-price of range” in $/pound by Fastmarkets during the contract month.
Termination of Trading
Trading in the contract shall terminate at the close of trading on the last UK business dayof the contract month. If such day is not an Exchange business day, trading in the contract
shall terminate on the Exchange business day that is immediately prior.

74

2024 Metals Product Guide and Calendar

COBALT HYDROXIDE CIF CHINA (FASTMARKETS) FUTURES
Product Code
CME Globex: COH
CME ClearPort: COH
Clearing: COH
Contract Size
2204.62 pounds
Settlement
Financially Settled
Minimum Price Fluctuation$0.01 per pound
Listed Contracts
Trading is conducted in the current year and next 4 calendar years. List monthly contracts
for a new calendar year following the termination of trading in the December contract of
the current year.
Floating Price
The Floating Price for each contract month is equal to the arithmetic average of allavailable price assessments published for “Cobalt hydroxide, min 30% Co, inferred, China, $per lb” in $/pound by Fastmarkets during the contract month.
Termination of Trading
Trading in the contract shall terminate at the close of trading on the last UK business dayof the contract month. If such day is not an Exchange business day, trading in the contract
shall terminate on the Exchange business day that is immediately prior.

75

cmegroup.com/metals

LITHIUM HYDROXIDE CIF CJK (FASTMARKETS) FUTURES
Product Code
CME Globex: LTH
CME ClearPort: LTH
Clearing: LTH
Contract Size
1,000 kilograms
Settlement
Financially Settled
Minimum Price Fluctuation$0.01 per kilogram
Listed Contracts
Trading is conducted in 24 consecutive months.
Floating Price
The Floating Price for each contract month is equal to the arithmetic average of allavailable price assessments published for “Lithium hydroxide monohydrate min 56.5%
LiOH.H2O battery grade spot price, US$ per kg CIF China, Japan & South Korea” in$/kilogram by Fastmarkets during the contract month
Termination of Trading
Trading in the contract shall terminate on the last Thursday of the contract month. If this is
not a U.S. business day, trading terminates on the prior U.S. business day.

76

2024 Metals Product Guide and Calendar

LITHIUM CARBONATE CIF CJK (FASTMARKETS) FUTURES
Product Code
CME Globex: LTC
CME ClearPort: LTC
Clearing: LTC
Contract Size
1,000 kilograms
Settlement
Financially Settled
Minimum Price Fluctuation$0.01 per kilogram
Listed Contracts
Trading is conducted in 24 consecutive months.
Floating Price
The Floating Price for each contract month is equal to the arithmetic average of allavailable price assessments published for “Lithium carbonate 99.5% Li2CO3 min, battery
grade, spot prices cif China, Japan & Korea, $/kg” in $/kilogram by Fastmarkets during thecontract month
Termination of Trading
Trading in the contract shall terminate on the last Exchange business day of the contract
month.

77

cmegroup.com/metals

MOLYBDENUM OXIDE (PLATTS) FUTURES
Product Code
CME Globex: MOX
CME ClearPort: MOX
Clearing: MOX
Contract Size
1,322.77 pounds
Settlement
Financially Settled
Minimum Price Fluctuation$0.01 per pound
Listed Contracts
Trading is conducted in the current year and the next year.
Floating Price
The Floating Price for each contract month is equal to the arithmetic average of allavailable price assessments published for Molybdenum Oxide Daily Dealer (Global) in $/lb
Mo contained, mid-price of daily range, by Platts during the contract month.
Termination of Trading
Trading in the contract shall terminate on the last UK business day of the contract month.
If such day is not an Exchange business day, trading in the contract shall terminate on the
Exchange business day that is immediately prior.

78

2024 Metals Product Guide and Calendar

MetalsOTHER METALS FUTURES CONTRACTSUXC URANIUM U3O8 FUTURES
Product Code
CME Globex: UX
CME ClearPort: UX
Clearing: UX
Contract Size
250 pounds of U308
Settlement
Financially Settled
Minimum Price Fluctuation$0.05 per pound
Listed Contracts
Trading is conducted in 60 consecutive months.
Floating Price
The Floating Price for each contract month will be the month-end spot U3O8 pricepublished in Ux Weekly for the contract month by UxC, LLC. The procedures for trading,clearing and cash settlement of this contract, and any other matters not specificallycovered herein shall be governed by the general rules of the Exchange.
Termination of Trading
Trading terminates on the last Monday of the contract month. If the last Monday in thecontract month is not a business day, trading terminates on the prior business day.

79

cmegroup.com/metals

Overview of Physical Delivery Process
For most CME Group physically delivered metals contracts, delivery may take place on any
business day in the contract month beginning on the first business day of the delivery month,
but not later than the last business day of the current delivery month. The Gold Kilo futures
has a single delivery day – the third Wednesday of the delivery month. Delivery is the transfer
of electronic warrants and funds in Clearing. Deliveries across the delivery month occur with a
3-business day cycle:
Day 1: Intent and Assignment Day – Clearing Firms enter sell side intents. CME Clearing assigns
sellers to buyers.
Day 2: Invoicing Day – Buy and sell side Clearing Firms receive delivery invoices.
Day 3: Delivery and Payment – The warrants change ownership from seller to buyer; buyer isdebited/seller is credited for the delivery.
Position holders need to be cognizant of applicable position limits for each futures contract in thedelivery month.
1• Establish a position in a futures contract month (Jun-19 Gold Futures)• Long Position = Take Delivery of a warrant• Short Position = Make Delivery of a warrant

2• Short position holders move the product to an Exchange-approved facility.
• For Gold Futures, Gold Kilo Futures, Platinum Futures and Palladium Futures, only
approved carriers may be used for the transportation of the product. Exchange rules
require transportation to be directly from the refiner facility, or from an approved assayer,
or from another Exchange-approved facility.
• Short position holders register inventory they wish to deliver against their futures positions
through their clearing firms (or broker). Warrants are created by the approved facility
during the registration process.
• Customers are responsible for transport costs and storage fees for their inventory at an
approved facility.

3• As the delivery window commences, short position holders are required to initiatedelivery intentions through their respective clearing firms. Delivery Intents must be
submitted to CME Clearing by the last Intent Day for that delivery month.
• On Intent Day, all assignments for deliveries are conducted by CME Clearing• On Notice Day, all assignments for deliveries are conducted by CME Clearing.
• On Delivery Day, Longs receive warrants and Shorts receive funds.
• After the delivery process, Longs may choose to remove product from facility(i.e., cancel warrants).

80

2024 Metals Product Guide and Calendar

3 Business Day Delivery Cycle Example:
GOLD FUTURES
THU

FRI

SAT

Intent/Assignment Day
Seller submits delivery intents
through their clearing firm.
Delivery intents need to beentered in Clearing by shortposition holders by 7:00
p.m. NY Time on intent day,except that on last intent
day, it needs to be sent by
1:00 p.m. CME Clearing runs
the delivery assignment.

SUN

MON

Invoicing Day
Invoices sent to long andshort position holders.

TUE

WED

THU

Delivery/Payment Day
Deliveries will occur
during the morning of
the collection cycle. The
seller receives the funds
and the assigned buyer
receives warrants.

Benchmark Metals Products
ACTIVE MONTH TABLE
Products

Gold

SilverPlatinum

Palladium

CopperProduct Code

GC

SI

PL

PA

HG

Contract Size

100 troy oz.

5,000 troy oz.

50 troy oz.

100 troy oz.

25,000 pounds

X

X

Jan

F

Feb

G

Mar

H

Apr

J

May

K

Jun

M

Jul

N

Aug

Q

Sep

U

Oct

V

Nov

X

Dec

Z

X
X
X
X

X
X

X

X

X
X

X

X

X
X

X

X

X

X

X

X

X

81

cmegroup.com/metals

Base Metal Warehouse Locations
CopperAluminum

Zinc

Lead

X

X

X

X

X

X

X

X

X

X

X

Antwerp, Belgium

X

X

X

Bilbao, Spain

X

X

X

Rotterdam, The Netherlands

X

X

X

Gwangyang, Republic of Korea

X

X

X

Busan, Republic of Korea

X

X

Johor, Malaysia

X

X

X

Port Klang, Malaysia

X

X

X

Singapore

X

X

X

United States
Baltimore, MD

X

New Orleans, LA

X

Salt Lake City, UTX

Toledo, OH
Tucson, AZ

X

Detroit, MI

X

Owensboro, KYXEl Paso, TX

XEuropeAsia822024 Metals Product Guide and Calendar

Precious Metals Depositories
Gold

SilverPlatinum

Palladium

Asahi

X

X

X

X

HSBC

X

X

X

X

IDS

X

X

X

X

Brink's

X

X

X

X

DDSC

X

X

X

X

MTB

X

X

X

X

JP Morgan

X

X

X

X

X

X

X

CNT
Malca-Amit

X

X

X

X

Loomis International (US) Ltd.

X

X

X

X

Loomis International (HK) Ltd.

Gold Kilo

X

X

83

cmegroup.com/metals

Metals Options Exercise Months
FUTURES CONTRACT INTO WHICH THE OPTIONS CONTRACT EXERCISES

OptionContract
MonthGold Futures
Month forOG Options

SilverFuturesMonth forSO Options

CopperFuturesMonth for
HX Options

Platinum
Futures Monthfor PO
Options

Palladium
FuturesMonth forPAO Options

January

Feb

Mar

Mar

Jan

Mar

February

Feb

Mar

Mar

Apr

Mar

March

Apr

Mar

Mar

Apr

Mar

April

Apr

May

May

Apr

Jun

May

Jun

May

May

Jul

Jun

June

Jun

Jul

Jul

Jul

Jun

July

Aug

Jul

Jul

Jul

Sep

August

Aug

Sep

Sep

Oct

Sep

September

Oct

Sep

Sep

Oct

Sep

October

Oct

Dec

Dec

Oct

Dec

November

Dec

Dec

Dec

Jan

Dec

December

Dec

Dec

Dec

Jan

Dec

AUTOMATIC EXERCISE BASIS THE FUTURES SETTLEMENT PRICE ON EXPIRY DATE SHALL BE:

Gold................... 12:30 CT; 1:30 ET

Platinum..........12:05 CT; 1:05 ET

Silver................... 12:25 CT; 1:25 ET

Palladium......12:00 CT; 1:00 ET

84

Copper............12:00 CT; 1:00 ET

2024 Metals Product Guide and Calendar

Useful Links
Trading Hours
cmegroup.com/trading-hours.html#metals
Rulebooks
cmegroup.com/rulebook/NYMEX/
cmegroup.com/rulebook/COMEX/Broker Directory
cmegroup.com/tools-information/find-a-broker.html
Block Trades
cmegroup.com/clearing/trading-practices/block-trades.html#nymexComexProducts
Performance Bond Requirements
cmegroup.com/clearing/margins/outright-vol-scans.html#pageNumber=1&sortField=
exchange&sortAsc=true
Warehouse/Depository Stocks and Deliveries
cmegroup.com/clearing/operations-and-deliveries/nymex-delivery-notices.html
Warrant Line-Up Reportcmegroup.com/market-data/reports/warrant-line-up-report.xls
Service Providers and Storage Fees (approved facilities, brands, assayers, and carriers)
cmegroup.com/rulebook/files/service-providers.xls
QuikStrike Option Pricing & Analysis Tool
cmegroup.com/tools-information/quikstrike.html
The Commitments of Traders (COT) tool
cmegroup.com/tools-information/quikstrike/commitment-of-traders-metals.html

85

cmegroup.com/metals

Metals Futures and Options
2024 CALENDAR

A month-by-month guide to 2024 contract expiration dates
and CME Group holidays.
Please note: 2024 dates are subject to change.

86cmegroup.com/metals

2024 Metals Product Guide and Calendar

January 2024
SUN

MON
1

MONTH CODE: F

TUE

WED

THU

FRI

SAT

2

3

4

5

6

✖	New Year’s
Day

7

8

9

10

11

12

13

14

15

16

17

18

19

20

25

26

27

	PO, PAO✖	Martin LutherKing Jr. Day

21

22

23

24

	OG, SO, HX

28

30

29

31

	GC, SI, HG,
PL, PA

Information from public sources. CME Group is not responsible for its accuracy or any changes.

✖ CME Group Holiday	
Last Trade Date87

cmegroup.com/metals

2024 Metals Product Guide and Calendar

February 2024
SUN

MON

MONTH CODE: G

TUE

WED

THU

FRI

SAT

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

	PO, PAO✖	President's
Day

25

26

27

28

	OG, SO, HX

	GC, SI, HG,

29

PL, PA

Information from public sources. CME Group is not responsible for its accuracy or any changes.

✖ CME Group Holiday	
Last Trade Date88

cmegroup.com/metals

2024 Metals Product Guide and Calendar

March 2024
SUN

MON

MONTH CODE: H
TUE

WED

THU

FRI

SAT

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

28

29

30

	PO, PAO

24

25

26

27

	OG, SO, HX

	GC, SI, HG,
PL, PA✖	Good Friday

31

Information from public sources. CME Group is not responsible for its accuracy or any changes.

✖ CME Group Holiday	
Last Trade Date89

cmegroup.com/metals

2024 Metals Product Guide and Calendar

April 2024
SUN

MONTH CODE: J

MON

TUE

WED

THU

FRI

SAT

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

25

26

27

	OG, SO, HX

	GC, SI, HG,

	PO, PAO

21

28

22

29

23

24

30

Information from public sources. CME Group is not responsible for its accuracy or any changes.

✖ CME Group Holiday	
Last Trade Date
90

PL, PAcmegroup.com/metals

2024 Metals Product Guide and Calendar

May 2024
SUN

MONTH CODE: K

MON

TUE

WED

THU

FRI

SAT

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

25

	PO, PAO

19

20

21

22

23

24

26

19

28

29

30

31

✖	Memorial Day 	OG, SO, HX

	GC, SI, HG,
PL, PA

Information from public sources. CME Group is not responsible for its accuracy or any changes.

✖ CME Group Holiday	
Last Trade Date91

cmegroup.com/metals

2024 Metals Product Guide and Calendar

June 2024
SUN

MONTH CODE: M

MON

TUE

WED

THU

FRI

SAT
1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

	PO, PAO✖	Juneteenth

25

26

27

28

29

	OG, SO, HX

	GC, SI, HG,

2324

PL, PA

30

Information from public sources. CME Group is not responsible for its accuracy or any changes.

✖ CME Group Holiday	
Last Trade Date
92

cmegroup.com/metals

2024 Metals Product Guide and Calendar

July 2024
SUN

MONTH CODE: N

MON
1

TUE
2

WED
3

THU
4

FRI

SAT

5

6

✖	Independence
Day

7

8

9

10

11

12

13

14

15

16

17

18

19

20

25

26

27

	PO, PAO

21

22

23

24

	OG, SO, HX

28

30

29

31

	GC, SI, HG,
PL, PA

Information from public sources. CME Group is not responsible for its accuracy or any changes.

✖ CME Group Holiday	
Last Trade Date93

cmegroup.com/metals

2024 Metals Product Guide and Calendar

August 2024
SUN

MON

MONTH CODE: Q
TUE

WED

THU

FRI

SAT

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

29

30

31

	PO, PAO

25

26

27

28

	OG, SO, HX

	GC, SI, HG,
PL, PA

Information from public sources. CME Group is not responsible for its accuracy or any changes.

✖ CME Group Holiday	
Last Trade Date
94

cmegroup.com/metals

2024 Metals Product Guide and Calendar

September 2024
SUN
1

MON
2

✖

MONTH CODE: U

TUE

WED

THU

FRI

SAT

3

4

5

6

7

Labor Day

8

9

10

11

12

13

14

15

16

17

18

19

20

21

25

26

27

28

	OG, SO, HX

	GC, SI, HG,

	PO, PAO

22

29

23

24

PL, PA

30

Information from public sources. CME Group is not responsible for its accuracy or any changes.

✖ CME Group Holiday	
Last Trade Date95

cmegroup.com/metals

2024 Metals Product Guide and Calendar

October 2024
SUN

MON

MONTH CODE: V

TUE

WED

THU

FRI

SAT

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

25

26

	PO, PAO

20

21

22

23

24

27

28

29

30

31

	OG, SO, HX

	GC, SI, HG,
PL, PA

Information from public sources. CME Group is not responsible for its accuracy or any changes.

✖ CME Group Holiday	
Last Trade Date
96

cmegroup.com/metals

2024 Metals Product Guide and Calendar

November 2024
SUN

MON

MONTH CODE: X

TUE

WED

THU

FRI

SAT

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

28

29

30

	PO, PAO

24

25

26

27

	OG, SO, HX

	GC, SI, HG,
PL, PA✖	Thanksgiving
Day

Information from public sources. CME Group is not responsible for its accuracy or any changes.

✖ CME Group Holiday	
Last Trade Date97

cmegroup.com/metals

2024 Metals Product Guide and Calendar

December 2024
SUN

MON

MONTH CODE: Z

TUE

WED

THU

FRI

SAT

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

26

27

28

	OG, SO, HX

	GC, SI, HG,

	PO, PAO

22

23

24

25

✖	Christmas
Day

29

30

31

Information from public sources. CME Group is not responsible for its accuracy or any changes.

✖ CME Group Holiday	
Last Trade Date
98

PL, PAcmegroup.com/metals

2024 Metals Product Guide and Calendar

Contact Information
CME GROUP GLOBAL METALS TEAM
For more information, email the CME Group Metals team at metals@cmegroup.com
For more information on our CME Group Metals offering, visit cmegroup.com/metals

CME GLOBEX CONTROL CENTER
UNITED STATESEUROPEASIA+1 800 438 8616

+44 20 7623 4747

+65 6532 5010

CME Group, The Globe Logo, CME, Chicago Mercantile Exchange, CME Direct and Globex are registeredtrademarks of Chicago Mercantile Exchange Inc. ClearPort, New York Mercantile Exchange and NYMEX are
registered trademarks of New York Mercantile Exchange, Inc. COMEX is a registered trademark of Commodity
Exchange, Inc. The information within this fact card has been compiled by CME Group for general purposes only.
Although every attempt has been made to ensure the accuracy of the information within this brochure,
CME Group assumes no responsibility for any errors or omissions.
Futures trading is not suitable for all investors, and involves the risk of loss. Futures are a leveraged investment,
and because only a percentage of a contract’s value is required to trade, it is possible to lose more than theamount of money deposited for a futures position. Therefore, traders should only use funds that they can afford
to lose without affecting their lifestyles. And only a portion of those funds should be devoted to any one trade
because they cannot expect to profit on every trade. All examples in this brochure are hypothetical situations,used for explanation purposes only, and should not be considered investment advice or the results of actual
market experience. All matters pertaining to rules and specifications herein are made subject to and aresuperseded by official CME, CBOT and NYMEX rules. Current rules should be consulted in all cases.
Copyright © 2024 CME Group. All rights reserved.

cmegroup.com

PM23ME003/0524