Indices DJIA S&P 500 DAX 30 Nasdaq 100 Nasdaq Comp Nikkei 225 FTSE 100 SMI DJ Stoxx 50 CAC 40 Hang Seng Kospi Nyse Comp AMEX   -     -     -     -     -     -     -     -     -     -     -     -     -     -   10911 1137.4 5732.4 2127.7 2438.1 8981.9 5072.1 4984.1 2161.9 5732.4 19614.7 1817.4 7017.6 2174.7 Commodites Light Crude Oil Brent Crude Copper Gold Pallad Platinum Silver Dow Diamonds QQQQ   -     -     -     -     -     -     -     -     -   83.08 106.28 1.17 1758.7 730.5 1782 38.21 109.16 55.42 Last update: 11-08-2011 14:29:00 (GMT - Live)

COMEX Silver What are Commodities? Commodity futures contract Commodity categories Henry Hub Natural Gas Heating Oil Uranium COMEX Gold COMEX Silver NYMEX Cocoa Futures NYMEX Coffee Futures NYMEX No. 11 Sugar Futures CME Snowfall Futures CME Hurricane Futures Traging The Weather CME Swap Rate futures CME$INDEX Futures CME Credit Index Event contracts CME Swaps on Swapstream Silver has attracted man's interest for thousands of years. In ancient times, silver deposits were plentiful on or near the earth's surface. Relics of ancient civilizations, include jewelry, religious artifacts, and food vessels formed from the durable, malleable metal. In 1792, silver assumed a key role in the United States monetary system when Congress based the currency on the silver dollar, and its fixed relationship to gold. Silver was used for the nation's coinage until its use was discontinued in 1965. At the turn of the century, an even more important economic function was emerging for silver, that of an industrial raw material. Today, silver is sought as a valuable and practical industrial commodity, and as an appealing investment. The largest industrial users of silver are the photographic, jewelry, and electronic industries. Newly mined metal provides most of the needed supply, and Mexico, the United States, and Peru are the primary producers. Secondary silver sources include coin melt, scrap recovery, and dishoarding from countries where export is restricted. Secondary sources are particularly price sensitive. Mining companies, fabricators of finished products, and users of silver-content industrial materials can use the COMEX Division silver futures and options contracts to manage their price risk. As a precious metal, silver also plays a role in investment portfolios. Specifications: Trading Unit 5,000 troy ounces. Price Quotation U.S. cents per troy ounce. Trading Hours (All times are New York time) Open outcry trading is conducted from 8:25 AM until 1:25 PM. Electronic trading is conducted from 6:00 PM until 5:15 PM via the CME Globex® trading platform, Sunday through Friday. There is a 45-minute break each day between 5:15PM (current trade date) and 6:00 PM (next trade date). Off-Exchange transactions can be submitted solely for clearing to the NYMEX ClearPort® clearing website. Trading Months Trading is conducted for delivery during the current calendar month; the next two calendar months; any January, March, May, and September falling within a 23-month period; and any July and December falling within a 60-month period beginning with the current month. Minimum Price Fluctuation Price changes for outright transactions, including EFPs, are in multiples of one-half cent (0.5c or $0.005) per troy ounce, equivalent to $25.00 per contract. For straddle or spread transactions, as well as the determination of settlement prices, the price changes are registered in multiples of one-tenth of a cent (0.10c or $0.001) per troy ounce, equivalent to $5.00 per contract. A fluctuation of one cent (1c or $0.01) is equivalent to $50.00 per contract. Last Trading Day Trading terminates at the close of business on the third to last business day of the maturing delivery month. Delivery Silver delivered against the futures contract must bear a serial number and identifying stamp of a refiner's officially listed brand. Delivery must be must be made from a warehouse or vault licensed or designated by the Exchange specifically for the storage of silver. Delivery Period The first delivery day is the first business day of the delivery month; the last delivery day is the last business day of the delivery month. Exchange of Futures for Physicals (EFP) The buyer or seller may exchange a futures position for a physical position of equal quantity by submitting a notice to the Exchange. EFPs may be used to either initiate or liquidate a futures position. Grade and Quality Specifications In fulfillment of each contract, the seller must deliver 5,000 troy ounces (±6%) of refined silver, assaying not less than .999 fineness, in cast bars weighing 1,000 or 1,100 troy ounces each and bearing a serial number and identifying stamp of a refiner approved and listed by the Exchange. A list of approved refiners and assayers is available from the Exchange upon request. Position Accountability Levels and Limits Any one month/all months: 6,000 net futures equivalent, but not to exceed 1,500 in the spot month. Margin Requirements Margins are required for open futures positions. Trading Symbol SI source: