The Gold Kilo futures contract allows market participants to make or take delivery of gold kilo bars of minimum .9999 fineness at Exchange approved depositories in Hong Kong.
DELIVERY TIMETABLE
Delivery Day for the contract will be the Third Wednesday of the contract delivery month, and the timeline for deliveries will follow a three-day cycle. Trading in an expiring Gold Kilo futures contract will terminate three business days before the third Wednesday of the contract month.
- Intent Day will be two business days before Delivery Day;
- Notice Day will be one business day before Delivery Day; and
- Delivery Day (third Wednesday of the contract month): Delivery Day will be the following business day, if the Third Wednesday in the delivery month is not a valid business day.
Business Days for Contract Expiration and Delivery Cycle will incorporate CME Group’s regular U.S. holiday calendar as well as the Hong Kong holiday calendar.
Gold Kilo Futures Timetable in a Contract Delivery Month (assuming no holidays):
Friday |
Sat |
Sun |
Monday |
Tuesday |
Wednesday |
Contract Expiration Trading in an expiring Gold Kilo futures contract terminates at 5:15pm NY time. Positions held at contract expiration may be liquidated via EFRP transactions.
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Intent Day Delivery intents are required from short clearing firms by 1:00pm NY Time |
Notice Day Delivery notifications and invoices sent to long clearing firms
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DELIVERY DAY Deliveries will occur during the 7:45am NY time collection cycle. Long clearing firms receive warrants and short clearing firms receive funds. |
Role of Clearing Firms
Clearing firms play a central role in the delivery process, because deliveries occur between clearing firms, acting as agents for those customers who hold accounts with them. Contract deliveries do not occur directly between the account holders themselves.
Role of Customers in the Delivery Process
Customers with short positions in Gold Kilo futures will be responsible for moving product (i.e., eligible gold bars) to an Exchange approved depository in Hong Kong for potential deliveries. Customers are required to arrange and coordinate shipment of gold bars for delivery using an Exchange approved carrier, and pay for all shipping and storage charges.
For more information, please contact metals@cmegroup.com
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