Trading Unit
One
COMEX Division copper futures contract.
Price Quotation
U.S. cents per pound.
Trading Hours (All times are New
York time)
Open outcry trading is conducted from 8:10 AM until
1:00 PM.
Electronic trading is conducted via the CME Globex® trading platform
from 6:00 PM Sundays through 5:15 PM Fridays, Eastern Time, with a 45-minute break each day between 5:15 PM and 6:00 PM. Off-Exchange
transactions can be submitted solely for clearing to the NYMEX ClearPort® clearing website as an exchange of futures for
swaps (EFS) or exchange of futures for physicals (EFP) transaction until 5:15 PM, Monday through Friday, and the day preceding
a holiday.
Trading Months
Options are listed for trading in each of the nearest 22 futures contract months. The options are American-style
and can be exercised at any time up to expiration.
Minimum Price
Fluctuation
Price changes are registered in multiples of five
one-hundredths of one cent (0.05¢ or $0.0005) per pound, equivalent to $12.50 per contract. A fluctuation of one cent
(1¢ or $0.01) is equivalent to $250 per contract.
Maximum Daily
Price Fluctuation
No price limits.
Last
Trading Day
Expiration occurs on the fourth business day prior
to the underlying futures delivery month. If the expiration day falls on a Friday or immediately prior to an Exchange holiday,
expiration will occur on the previous business day.
Exercise of Options
Until one hour after the contract market close, New York time, on
any business day for which the options contract is listed for trading. On expiration day, the buyer has until 4:30 PM, New
York time, to exercise an options contract.
Strike Prices
$0.01 (1¢) per pound apart for strike prices below $0.40 (40¢), $0.02 (2¢) per pound apart for strike
prices between $0.40 (40¢) and $1.20, and $0.05 (5¢) per pound apart for strike prices above $1.20.
Margin Requirements
Margins are required for open
short options positions. The margin requirement for an options purchaser will never exceed the premium paid.
Trading Symbol
HX
