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Copper Futures

Contract Unit

25,000 pounds

Price Quotation

U.S. dollars and cents per troy ounce

Trading Hours

CME Globex:

Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)TAM: Sunday - Friday 5:00 p.m. CT - 12:35 p.m. London time (6:00 p.m. - 7:35/8:35 a.m. ET)

CME ClearPort:

Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)

Minimum Price Fluctuation

0.0005 per pound = $12.50

Product Code

CME Globex: HG

CME ClearPort: HG

Clearing: HG

TAS: "HGT","HG0"

TAM: HGF

Listed Contracts

Monthly contracts listed for 24 consecutive months and any March, May, July, September, and December in the nearest 60 months

Settlement Method

Deliverable

Termination Of Trading

Trading terminates at 12:25 p.m. CT on the third last business day of the contract month.

Trade At Marker Or Trade At Settlement Rules

      Trading terminates at 12:00 Noon CT on the third last business day of the contract month.TAM trading terminates at 12:35 p.m. London time on the third last business day of the month prior to the              contract month

Trade At Marker Or Trade At Settlement Rules

Trading at Settlement is available in the spot month (HG0) and the first, second, third and fourth nearby active contract months (HGT). The active contract months are March, May, July, September and December. Spot month TAS transactions are only permitted at the settlement price (flat or zero). Active month TAS transactions may be executed at the current day's settlement price or at any valid price increment up to 10 ticks higher or lower than the settlement price.Spot month TAS trading terminates the 3rd last business day of the contract month.

Trading at Marker (TAM) is analogous to our existing Trading at Settlement (TAS) wherein parties are permitted  to trade at a differential that represents a not-yet-known price. TAM trading will use a marker price, whereas TAS trading uses the Exchange-determined settlement price for the applicable contract month. As with TAS trading, parties enter TAM orders at the TAM price or at a differential between one and ten ticks higher or lower than the TAM price. Trading at Marker is available for the London Marker on the nearest active month ( March, May, July, September, and December).

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 Quality

The contract (basis) grade for the Grade 1 copper contract shall be Grade 1 Electrolytic Copper Cathodes (full plate or cut) and shall conform to the specifications (as to chemical and physical requirements) for Grade 1 Electrolytic Copper Cathode as adopted by the American Society for Testing and Materials (B115-00), or its latest revision.