This section describes the Silver calendar /miNY Metals spread functionality on the CME Globex platform:

1 miNY Metals Price Rounding
- 1.1 miNY Gold Example
- 1.2 miNY Silver Example
- 1.3 miNY Copper Example
2 Silver Calendar Spreads
- 2.1 Silver Calendar Spread Leg Pricing
- 2.2 Implied Silver Calendar Spreads
  - 2.2.1 Implied IN
    - 2.2.1.1 Implied IN Pricing Example
  - 2.2.2 Implied OUT
    - 2.2.2.1 Implied OUT Bid Rounding from Calendar Spreads Example
    - 2.2.2.2 Implied OUT Ask Rounding from Calendar Spreads Example

For complete product listing and contract specifications please see: http://www.cmegroup.com.

This section uses silver for example purposes.

miNY Metals Price Rounding

The actual settlement of the miNY products is identical to that of the full-size contracts. For display purposes only, on CME Globex, the miNY products are rounded to the nearest tradable tick for the CME Globex Settlement Price.

The following examples illustrate the settlement price rounding convention on CME Globex.

miNY Gold Example

The miNY Gold settlement prices round to the nearest tradable tick

Contract Size	Contract Tick Size	Tick Value	Settlement Price Examples	CME Globex Tick Size

CME Group Client Systems Wiki

Metals Spreads

miNY Metals Price Rounding

miNY Gold Example