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Settlement prices for the E-mini Gold futures (QO) may differ slightly from the "true" settlement price displayed on the CME Daily Bulletin. These slight variances in settlements are the result of rounding due to differences in the minimum tick sizes between the E-mini Gold futures and the full-sized contracts Gold futures (GC). Additionally, the settlement price displayed on the CME Group Daily Bulletin matches that of the full-sized contracts for purposes of marking-to-market, as the contracts are off-settable. The E-mini Gold futures (QO) outrights trade in .25 increments and the full-sized Gold futures (GC) outrights trade in .1 increments.
Example
If the GCZ2 settles 1772.1, then the QOZ2 would settle 1772.00.
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http://www.cmegroup.com/trading/metals/files/daily-settlement-procedure-gold-futures.pdf
Additional Details
E-mini Gold futures (QO) are cash settled upon expiration. For additional details, please see the COMEX Rulebook (Rule 911.07).
Micro Gold Futures
Normal Daily Settlement Procedure
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If the GCZ2 settles 1772.1, then the MGCZ2 would settle 1772.00.
Final Settlement
CME Group staff determines the settlement of the expiring Micro Gold futures (MGC) by following the regular daily settlement procedure.
Gold Kilo Futures
Normal Daily Settlement Procedure
Active Month
The Gold Kilo futures (GCK) active month is settled by CME Group staff based on CME Globex activity between 13:29:00 and 13:30:00 (ET), the settlement period. The active month is the nearest base contract month that is not the current delivery month. The base months for Gold Kilo futures (GCK) will be the same as the Gold futures (GC), i.e., February, April, June, August and December.
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Last Notice Day for GC: | New GCK Spot Month | New GCK Active Month: |
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January (F) | February (G) | April (J) |
March (H) | April (J) | June (M) |
May (K) | June (M) | August (Q) |
July (N) | August (Q) | December (Z) |
November (X) | December (Z) | February (G) |
Tier 1: If a trade(s) occurs on CME Globex between 13:29:00 and 13:30:00 ET, the settlement period, then the active contract month settles to the volume-weighted average price (VWAP), rounded to the nearest tradable tick.
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315.126 = 315.13 CNH per gram
Gold (Enhanced Delivery) Futures Daily Settlement Procedure
Normal Daily Settlement Procedure
COMEX Gold (Enhanced Delivery) futures (4GC) are settled by CME Group staff based on trading activity on CME Globex during the settlement period. The settlement period is defined as: 13:29:00 to 13:30:00 ET.
All Months
All Gold (Enhanced Delivery) futures (4GC) contracts will be settled based upon the bid/ask activity of both outright and spread markets on Globex between 13:29:00 and 13:30:00 ET. Spreads to be considered in this manner are 1 month calendars, 2 month calendars, 3 month calendars, 6 month calendars, 1 month butterflies and the inter-commodity GC vs 4GC spreads. Bids and asks in calendar spreads, butterfly instruments and inter-commodity GC vs 4GC spreads will be used in conjunction with settlements from any months where a settlement price has been determined to form an implied market in the contract to be settled. These implied markets, along with the outright bid/ask market for the contract, will be used to derive the best possible bid and the best possible ask. If there are multiple prices that are eligible between this best possible bid and the best possible ask, the price will be chosen that sets the net change as close to the net change of the contract that precedes it in the settlement order.
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https://www.cmegroup.com/content/dam/cmegroup/rulebook/COMEX/1a/126.pdf
1-Ounce Gold Futures
Normal Daily Settlement Procedure
The settlements in the 1-Ounce Gold futures (1OZ) are derived directly from the settlements of the
full-sized Gold futures (GC), rounded to the nearest tradable tick . Settlement prices for the for both daily and final settlements.
Additional Details
1-Ounce Gold futures (1OZ) may differ slightly from the "true" settlement price. These slight variances in settlements are the result of rounding due to differences in the minimum tick sizes between the 1-Ounce Gold futures and the full-sized Gold futures (GC) contracts. Additionally, the settlement price displayed on the CME Group Daily Bulletin matches that of the full-sized contracts for purposes of marking-to-market. The 1-Ounce Gold futures (1OZ) outrights trade in .25 increments and the full-sized Gold futures (GC) outrights trade in .1 increments.
Example:
If the GCZ2 settles 1772.10, then the 1OZZ2 would settle 1772.00. The settlement procedure for the regular sized Gold contracts can be found at the following link:
http://www.cmegroup.com/trading/metals/files/daily-settlement-procedure-gold-futures.pdf
Additional Details
1-Ounce Gold futures (1OZ) are cash settled upon expiration. For are cash settled upon expiration. For additional details, please see
the COMEX Rulebook.
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