E-Micro Gold Futures


E-Micro Gold futures
Exchange CME Group
Settlement Physically delivered
Contract Size 10 Troy ounces
Pricing Unit Need pricing unit!
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 Electronic
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

  1. CME to launch e-micro gold contract in October. Reuters.
  2. E-Micro Gold Futures Futures. CME Group.
Last modified on 14 July 2012, at 01:54