LME Silver

The LME Silver contract combines daily tradeable dates with monthly and quarterly trading dates. In this way, the system seamlessly blends the daily structure of the London over-the-counter (OTC) market, and the monthly futures approach of existing exchange offerings.

The contract can be traded electronically from 01.00 to 20.00 (London time) via LMEselect, and through the 24-hour inter-office telephone market.

US$/tonne for 21 August 2017

LME CLOSING PRICES, US$ PER TROY OUNCE

Contract Price
SPOT 17.020
Month 1 17.040
Month 6 17.160
Month 12 17.310
Month 24 17.635

LME CLOSING PRICES, US$ PER FINE TROY OUNCE

LME Volumes and Market Open Interest

Trading date Volume1 Open Interest2 
18 Aug  305      - 
17 Aug  143  1,997   
16 Aug  636 2,005
15 Aug 308
2,110
14 Aug 1,289
2,191
11 Aug  599
2,355
10 Aug  389
2,427
09 Aug  964
2,822
08 Aug  2,639
3,133
07 Aug  2,606
3,786
04 Aug  728
2,821
03 Aug  2,834
2,842
02 Aug 555  2,408
01 Aug  260 2,326

Volumes are quoted in lots and published T+2 days in arrears
2 Market Open Interest (the total of member and client open positions in lots) is published T+3 in arrears

HISTORICAL PRICE GRAPH

Contract specifications

Name Silver
Contract code AG
Contract type
Futures
Underlying material
Loco London Fine Silver held in London and complying with standards relating to good delivery and fineness acceptable to the Precious Metal Clearer of the Clearing House for the purpose of effecting settlement with the Clearing House, as such standards are in effect from time to time
Lot size
5,000 troy ounces
Price quotation
US Dollars and cents per fine troy ounce
Clearable currencies
US Dollars
Trading venues
LMEselect Inter-office market
Trading Hours 01:00 – 20:00 London time
24 hours
Contract period
Daily Dates tradeable from T+1 to T+3, Monthly Dates for at least 24 months (third Wednesday Prompt) and for a further twelve Calendar Quarterly Dates, as defined in the LME Rulebook
Daily Dates tradeable from T+1 to T+25 Monthly Dates for at least 24 months (third Wednesday Prompt) and for a further twelve Calendar Quarterly Dates, as defined in the LME Rulebook
Minimum price fluctuation (tick size)
$0.00500 per fine troy ounce
$0.00001 per fine troy ounce
(Carries) $0.00001 per fine troy ounce $0.00001 per fine troy ounce
Termination of trading
The last trading time for LMEprecious Silver Futures shall be 16:00 London time on the Last Trading Day. The Last Trading Day for LMEprecious Silver Futures shall be the Business Day which is one Business Day before the Prompt Date.
Settlement procedure
All unallocated Precious Metal deliveries to LME Clear should be made to LME Clear's nominated Precious Metal Clearer, in accordance with the Settlement Instructions issued by LME Clear
Margining
Realised Variation Margins applied

1 Defined terms used in this contract specification shall have the meaning ascribed to them in the LME Rulebook or LME Clear Rulebook (as appropriate)



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