Silver Daily Futures65623382

Description

A physically settled daily futures contract for silver delivered loco London in unallocated vault accounts.

Market Specifications

Trading Screen Product Name
Silver Daily Futures
Trading Screen Hub Name
ICUS
Contract Symbol
HIO
Contract Size
5,000 fine troy ounces
Price Quotation
US Dollars and cents per fine troy ounce
Eligible Contract Dates
London Business Days on which commercial banks are generally open for business in New York
Minimum Price Movement
One half cent ($0.00500) per fine troy ounce ($25.00 per contract) except that Block and EFRP trades may be executed at $0.00001 per fine troy ounce ($0.05 per contract)
Settlement
Physical Delivery
Delivery Points
Vaults in London operated by an LPMCL member which provides vaulting services for silver.
Grade/Standards/Quality
Silver meeting the specification standards published by the LBMA for silver bars that are acceptable in settlement of unallocated loco London silver transactions, as revised from time to time.
Daily Price Limit
None
Listing Cycle
Up to 70 Eligible Contract Dates.
Last Trading Day
The London Business Day prior to the Contract Date; trading in the expiring Contract Date ends at noon London time on LTD.
First Notice Day
The London Business Day prior to the Contract Date.
Off Exchange Trade Types
EFP, EFS and Block Trades permitted
Block Trade Minimum
5 lots
NCR, RL and IPL Levels
NCR: $0.20000 per oz.
RL: $0.30000 per oz.
IPL: $0.40000 per oz.
Exchange Fees
Screen, EFRP and Crossing Order Trades: $1.00 per side
Block Trades: $1.10 per side
Daily Settlement
13:24 to 13:25 pm NY time
Position Limit
10,000 lots in any month/all months combined
MIC Code
IFUS
Clearing Venues
ICUS
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Trading Hours

CityTradingPre-Open
New York8:00 PM - 6:00 PM*
20:00 - 18:00
7:30 PM
19:30
London1:00 AM - 11:00 PM*
01:00 - 23:00
12:30 AM
00:30
Singapore8:00 AM - 6:00 AM*
08:00 - 06:00
7:30 AM
07:30

*Next Day

Sunday only, 6pm open and 5:30 pm pre-open

Codes

Clearing Admin Name
Daily SilverMst
Physical
HIO
Logical
HIO
GMI(FC)
R&N A.C.N.