E-Micro Gold Futures
From MarketsWiki
| E-Micro Gold futures | ||
|---|---|---|
| Exchange | CME Group | |
| Settlement | Physically delivered | |
| Trade Unit | 10 Troy ounces | |
| Point Value | Need point value! | |
| Tick Value | $0.10 per troy ounce | |
| Contract Months | February, April, June, August, October, and December | |
| Last Trading Day | Trading terminates on the third last business day of the delivery month. | |
| Note: This contract is electronic ONLY -- no open outcry | ||
| No Open Outcry | No Electronic Market | |
| Trading Hours | N/A | Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT) |
| Ticker Symbol | N/A | MGC |
| Price Limits | N/A | N/A |
Notes
The E-micro Gold Futures contract was launched on October 4, 2010. The contract is for 10 ounces of gold and intended to appeal to individual investors and Commodity Trading Advisors[1]. CME waived fees for six months, until April 2011.
- Each E-micro contract yields one Accumulated Certificate of Exchange (ACE), which provides ten percent ownership in a 100-ounce gold bar.
- Ten ACEs can be converted into an official COMEX licensed gold warrant, representing an actual serial-numbered bar of gold[2].
Gold delivered under this contract shall assay to a minimum of 995 fineness.
References
- ↑ CME to launch e-micro gold contract in October. Reuters.
- ↑ E-Micro Gold Futures Futures. CME Group.
