7FOr Beginners Only
Daily Price limit 7%, 13%, and 20% 
limits are applied 
to the futures fixing 
price, effective 8:30 
a.m. to 3 p.m. CT , 
Mon–Fri.
7%, 13%, and 20% limits are 
applied to the futures fixing 
price, effective 8:30 a.m. to 
3 p.m. CT , Mon–Fri. (
see 
exchange for specifics.)
n/a n/a $0.25 n/a
Settlement type Cash settlement Deliverable Deliverable Physical delivery based 
on eFP delivery, with 
an option to cash settle 
against the 
iCe Brent 
index price for the 
last trading day of the 
futures contract.
Deliverable Deliverable
First Notice Day
n/a Final business day of the 
month preceding the 
contract month.
n/a n/a last business day of 
month preceding 
contract month.
The last business day of the 
month preceding the delivery 
month.
last Notice Day n/a Final business day of the 
contract month.
n/a n/a The business day after 
the last contract’s last 
trading day.
The second-to-last business 
day of the delivery month.
last trading Day Until 8:30 a.m. on 
the 3rd Friday of the 
contract month.
12:01 p.m. on the 7th 
business day preceding 
the last business day of the 
delivery month.
9:16 a.m. CT on 
the second business 
day immediately 
preceding the 
third W ed of the 
contract month.
The last business day 
of the second month 
preceding the relevant 
contract month.
Business day prior to 
the 15th calendar day of 
the contract month.
The third-to-last business day 
of the delivery month.
Deliverable 
Grade
n/a U.s. T -notes with a remaining 
term to maturity of 6.5 to 10 
years from the first day of the 
delivery month.
n/a n/a #2 yellow at contract 
price, #1 yellow at 
a 1.5 cent/bushel 
premium, #3 
yellow 
at a 1.5 cent/bushel 
discount.
gold delivered under this 
contract shall assay to a 
minimum of 995 fineness.
7