E-Micro Gold Futures
|E-Micro Gold Futures|
|Contract Unit||10 troy ounces|
|Price Quotation||U.S. dollars and cents per troy ounce|
|Trading Hours||Sunday - Friday, 7:00 p.m. - 7:45 a.m. CT and
Monday - Friday, 8:30 a.m. - 1:45 p.m. CT
|Minimum Price Fluctuation||0.10 per troy ounce = $1.00|
|Product Code||CME Globex: MGC
CME ClearPort: MGC
|Listed Contracts||Monthly contracts listed for any Feb, Apr, Jun, Aug, Oct, and Dec in the nearest 24 months|
|Termination of Trading||Trading terminates on the third last business day of the contract month.|
|Trade at Marker or Trade at Settlement Rules||Trading at Settlement is eligible in the first, second and third active contract month - February, April, June, August, December.|
|Settlement Procedures||Micro Gold Futures Settlement Procedures|
|Position Limits||COMEX Position Limits|
|Exchange Rulebook||COMEX 120|
|Price Limit or Circuit||Price Limits|
|Vendor Codes||Quote Vendor Symbols Listing|
|Delivery Period||Delivery may take place on any business day beginning on the first business day of the delivery month or any subsequent business day of the delivery month, but not later than the last business day of the current delivery month.|
|Grade and Quaity||Gold delivered under this contract shall assay to a minimum of 995 fineness.|
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. 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.
Gold delivered under this contract shall assay to a minimum of 995 fineness.