Mini Silver Futures Contract Specification

Full contract specification and related documents
Trade Unit   1,000 troy oz.
Price Quote   U.S. dollars and cents per oz.
Tick Size   1/10 of one cent or $0.001 per troy oz., $1 per contract.
Contract Months  
Current calendar month (for delivery purposes) and the next 2 months. Any January, March, May, and, September within 23 months of the current calendar month. Any July and December within 60 months of the current calendar month. 
Delivery  
New York and Delaware Exchange approved vaults. 1,000 oz. troy oz. (±10%), no less than 99.9% fineness. Seller’s discretion to deliver one vault receipt representing one bar or one warehouse depository receipt (WDR) representing 1/5 interest in one 5,000 oz. NYSE Liffe U.S. vault receipts or 100% interest in one 1,000 oz. NYSE Liffe U.S. vault receipt.
Last Trading Session Without Delivery Risk  
Long positions must be offset prior to the close of the trading session ending on the second business day prior to the first business day of the contract month.
Last Trading Day   Third to last business day of contract month at 1:25pm U.S. ET.
First Delivery Day   The first business day of the contract month.
Last Delivery Day   The last business day of the contract month.
First Seller's Notice Day  
First day short can notify Exchange of intent to deliver is the second business day prior to the First Delivery Day.
Last Seller's Notice Day  
Last day short can notify Exchange of intent to deliver is the second business day prior to the Last Delivery Day.
First Buyer's Notice Day  
First day Exchange can notify the long that it has been assigned the obligation to make payment for and take delivery of an electronic vault receipt is the business day immediately prior to the First Delivery Day.
Last Buyer's Notice Day  
Last day Exchange can notify the long that it has been assigned the obligation to make payment for and take delivery of an electronic vault receipt is the business day immediately prior to the Last Delivery Day.
Regular Trading Hours   7:16pm to 5:00pm the following day, Sunday through Friday, U.S. EDT.
Regular Daily Settlement   1:25pm U.S. ET.