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HKMEx`s US Dollar silver futures contract trades in units of 1,000 troy ounces with physical delivery in Hong Kong.
HKMEx`s US Dollar silver futures contract trades in units of 1,000 troy ounces with physical delivery in Hong Kong.
Silver has long been widely used for centuries as coinage and, due to its economic value is often used by investors as an inflationary hedge. It is second only to gold as a precious metal.
Today, silver has wide industrial applications – especially in electronics – owing to its exceptionally high thermal and electrical conductivity. It is the metal of choice for electrical contacts and conductors, mirrors and as a catalyst in chemical processing.
Trading in silver occurs in cash markets and derivative markets through futures contracts. Silver futures are standardized contracts that allow traders to participate in the price movements of silver. HKMEx’s US-dollar Silver Futures Contract trades in units of 1,000 troy ounces, with the option for physical delivery in Hong Kong.
| Trading Unit | 1,000 troy ounces | ||||||
| Grade and Quality | The delivery unit of silver is 1,000 fine troy ounces (±10%), no less than .999 fineness, cast in one bar and bearing a serial number and identifying stamp of a refiner approved and listed by HKMEx. | ||||||
| Price Quotation | U.S. dollars and cents per troy ounce | ||||||
| Tick Size | Minimum price fluctuation US$0.01 per troy ounce; US$10 per contract | ||||||
| Trading Hours |
08:00 to 23:00 (Hong Kong Time "HKT") Pre-Opening session 07:30 to 08:00 (HKT) |
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| Trading Months | Current calendar month; the next two consecutive calendar months; and any January, March, May, July, September, and December falling within a 12-month period beginning with the current month. | ||||||
| Last Trading Day | The third Monday of the contract month. The last trading day will be postponed to the next business day if the third Monday is an HKMEx holiday. | ||||||
| Settlement Method | Physical settlement | ||||||
| Spot Month Position Limit | 3,000 contracts (gross long or short); the spot month position limit shall be effective from the close of the first business day of the contract month. | ||||||
| Reportable Position | 250 contracts (gross long or short) for each contract month | ||||||
| Delivery Period | Four consecutive Hong Kong business days following the last trading day | ||||||
| Delivery Sites | Hong Kong | ||||||
| Trading Symbol | HKS | ||||||
| Quote Vendor Codes |
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| Address | Unit 01, 7/F Global Gateway, 168 Yeung Uk Road, Tsuen Wan, N.T., Hong Kong | ||||||||
| Website | www.viamat.com | ||||||||
| Contact Person |
Erica Cheung
Deputy General Manager – Sales & Marketing
Sindy Cheung
Deputy General Manager – Customer & Storage Services
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| Address |
Main Office: Heraeus Technology Centre, 30 On Chuen Street, On Lok Tsuen, Fanling, N.T., Hong Kong Hunghom Office: Room 2112-13, 21/F., Peninsula Square, 18 Sung On Street, Hunghom, Kowloon, Hong Kong |
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| Website | www.heraeus.com.hk | ||||||||
| Contact Person |
Jochen Schlessmann (Main Office)
Dick D.W. Poon (Hunghom Office)
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| Address | Suite 1705 The Metropolis Tower, 10 Metropolis Drive, Hung Hom, Kowloon, Hong Kong | ||||||||
| Website | www.metalor.com | ||||||||
| Contact Person |
Ada Yu
Reronica Chow
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| HKMEx Fee Items | Charging Basis | HKMEx Fee (US$) | LCH Fee (US$) |
|---|---|---|---|
| Market Levy (Trading Fee) | per lot per side | 0.50 | N/A |
| Registration Fee (Clearing Fee) | per lot per side | N/A | 0.25 |
| Registration Fee (Block Trade) | per lot per side | N/A | 0.35 |
| Market Levy (EFP/EFS) | per lot per side | 0.75 (1) | 0.35 (2) |
| Delivery Fee | per lot per side | 1.00 | 3.00 |
| Error Trade Admin Fee | per error trade reported | 400 | N/A |
| Give-up Fee | per lot (on the take-up side only) | 0.10 | N/A |
| Position Transfer Fee | per lot (on the take-up side only) | 0.10 | N/A |
| SFC Levy (3) | per lot per side | 0.078 | N/A |
(1) US$0.75 includes the HKMEx Market Levy (Trading Fee) of US$0.50 and the EFP/EFS surcharge of US$0.25
(2) US$0.35 includes the LCH.Clearnet Registration Fee (Clearing Fee) of US$0.25 and the EFP/EFS surcharge of US$0.10
(3) Effective 26 January 2012
