Contract unit: 5000 ounces

Quotation unit: USD and USD/oz.

Trading Time: (Eastern Time)

Open outcry trading time: 8: 25 to 13: 25.

Electronic trading time: Sunday 18: 00 to Friday 17: 15, with a 45-minute pause between17:15-18: 00 every day.

Contract month: the current month, the next two calendar months, any within 23 months from the current month 1, March, May, September, any July within 60 months, 65438+February.

Minimum price change: for simple forward transactions, including futures to spot transactions, the minimum price change is a multiple of 0//2 cents per ounce/kloc (or 0.0005 USD), which is equivalent to 25 USD per contract; Used for hedging transactions and settlement

Price, the minimum price change is per ounce110 cents (or 0.00 1 USD), which is equivalent to USD 5 per contract. A price fluctuation of 1 cent is equivalent to a fluctuation of $50 per contract.

Last trading day: the last trading day of the delivery month.

Delivery method: deliver the silver with the serial number of the designated manufacturer in the warehouse or storage place designated by the exchange.

Delivery date: from the first working day to the last working day of the delivery month.

Futures-to-spot trading: the buyer or seller applies to the exchange to exchange futures contracts for equivalent spot positions, which are suitable for opening or closing positions.

Grade and quality requirements: silver bars engraved with the manufacturer's identification code designated by the Exchange, with a silver purity of not less than 999 and a weight of 1000 or100 ounces.

Position limit: the total number of contracts in a single month or multiple months shall not exceed 6,000 lots, and the spot monthly contracts shall not exceed 1.500 lots.