Silver
Silver is one of the precious metals that has been involved in human life from ancient times. When silver has started to be used in the ancient times, it was valued higher than gold. It is said that the technology to produce silver had already existed around B.C.4000, and was used as ornaments around B.C3000. In ancient times, silver was also used as means of payment. Especially, because of the Athens silver mine, silver was a popular means of payment in ancient Greece and spread from middle east and the Mediterranean sea to Europe and Asia.
Since modern times, silver was used in industrial fields for its high electrical conductivity and thermal conductivity. It has a wide variety of usage such as in medical fields for its antibacterial features. The exchange that most deals silver in the world is the Shanghai Futures Exchange and the COMEX, and LBMA which deals spot trading follows.
| Launched |
March, 2023 |
|---|---|
| Listed Commodity Component products |
Silver |
| Target of Trade |
Silver of minimum 99.9% fineness |
| Type of Trade |
Cash-settled Rolling Spot Futures Transaction |
| Contract Size |
1unit(1kg) |
| Price Quotation |
１g |
| Minimum Price Fluctuation |
0.01 yen |
| Trading Hours |
［Day Sessions］ 9:00a.m. – 3:00p.m. |
| Contract Term |
One Clearing Period (Rolling Spot Futures) |
| Theoretical spot price |
The price determined by multiplying the average middle rate of Silver(XAG) distributed by the news media determined by the Exchange and the average middle exchange rate(Dollars-Yen) of the same news media. For details refer to Article 2 of ［ the Enforcement Rules of Cash-settled Rolling Spot Futures Transactions ］ |
| About Rolling Spot Futures |
If there is no offsetting resale or repurchase of the Rolling Spot Futures contract, the contract will close right before theIf there is no offsetting resale or repurchase of the Rolling Spot Futures contract, the contract will close right before the trading hour of the next clearing period starts and simultaneously, immediately the next clearing period starts, a new contract with the same content will establish |
| Price Limits |
Upper Limit The settlement price of the previous clearing period × 1.3 Refer to article Ⅱ.1.(2) of ［ the Enforcement Rules on Market Management (Precious Metals Market) ］ |