COMEX Copper Premium Grade A CIF Shanghai (Metal Bulletin) Futures (CUP) is a cash-settled contract based on the Copper Grade A cathode Cif Shanghai, low-high published by Metal Bulletin.
This contract will complement the existing physically delivered, liquid benchmark COMEX Copper futures contract. With this first, financially settled exchange-traded futures contract, you will be able to manage your price exposure to China copper premium.
Copper Premium Futures are available to trade on CME Globex and via CME Direct, CME Group’s free front-end trading platform. CME Globex operates as a Central Limit Order Book (CLOB). Copper will be available for clearing on CME ClearPort for privately negotiated trades.
Delivered securely across the Internet, CME Direct is a highly configurable trading front-end for CME Group markets that offers a complete suite of solutions across the trading lifecycle.
The CME Globex platform was the first, and remains among the fastest, global electronic trading systems for futures and options. Through its advanced functionality, high reliability and global connectivity, it is now the world’s premier electronic marketplace for derivatives.
CME ClearPort is a comprehensive set of flexible clearing services for the over-the-counter (OTC) market. Launched in 2002 to provide centralized clearing services and mitigate risk in the energy marketplace, CME ClearPort today serves as a gateway for a diverse slate of asset class transactions submitted for clearing. With OTC clearing through CME ClearPort, you can continue to negotiate your own prices privately and conduct business off-exchange – but you gain increased security and efficiency.
To register for clearing through CME ClearPort, you must establish an account with a COMEX clearing member and complete the Exchange User License Agreement (EULA).
Learn more about CME ClearPort.
Once you have received your username and password, contact your clearing member firm and request that your clearing account be added to RAV (Risk Allocation Value) Manager.
| Contract Unit | 25 metric tons | |
| Price Quotation | U.S. dollars and cents per metric ton | |
| Trading Hours All trading hours shown in Central Time (CT) | CME Globex CME ClearPort | Sunday – Friday 6:00 p.m. – 5:00 p.m. (5:00 p.m. – 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT) |
| Minimum Price Fluctuation | $0.25 per metric ton | |
| Product Code | CUP | |
| Listed Contracts | 18 consecutive months | |
| Settlement Method | Financially settled | |
| Position Limits | Visit cmegroup.com/nymex-position-limits for detailed NYMEX Position Limits | |
| Exchange Rulebook | COMEX 972. This contract is listed with, and subject to, the rules and regulation of COMEX | |
| Block Minimum | 10 contracts | |
| CME Globex Match Algorithm | First in First Out (FIFO) | |
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