Who controls Comex?

the CME Group
Both NYMEX and COMEX now operate as designated contract markets (DCM) of the CME Group. The other two designated contract markets in the CME Group are the Chicago Mercantile Exchange and the Chicago Board of Trade.

How does the Comex work?

COMEX is a futures and options market to trade commodities such as silver, gold, aluminium, and copper. COMEX was previously known as the Commodity Exchange Inc and is now merged with NYMEX and handles metals trading. COMEX basically serves as the principal gold clearinghouse.

What is Comex approved?

(COMEX) have approved the application of Loomis International (US) Inc. to become an approved depository for gold, silver, platinum and palladium. What is Comex and what is it all about? COMEX is the primary futures and options market for trading metals such as gold, silver, platinum, palladium, copper and aluminium.

What is the margin on gold futures?

Each gold futures contract represents 100 ounces and requires an initial margin of $4,950 and a maintenance margin of $4,500. Since the investor’s account is $5,000, which is slightly more than the initial margin requirement, they can therefore open a position in one gold futures contract.

Is Comex and CME same?

COMEX is the world’s largest futures and options trading for metals. It is a division of the Chicago Mercantile Exchange (CME) Group.

Can I buy silver from the Comex?

COMEX is one of the most well-known and recognized exchanges for the trading of metals such as gold, silver, copper and aluminum.

Who owns Comex gold?

COMEX is the world’s largest futures and options trading for metals. It is a division of the Chicago Mercantile Exchange (CME) Group. Metals futures are mostly used for hedging and are not typically delivered.

What is Comex today?

Open Price is4.3890 USD/lb. Close Price is4.5540 USD/lb.

Does initial margin come back?

In futures trading, if the account falls below the specified maintenance margin level, then the broker sends the trader a margin call. This informs the trader that they must immediately deposit sufficient funds to bring the account back up to the initial margin level.

Who pays the margin in futures trading?

The buyer or seller of a futures contract is required to deposit part of the total value of the specified commodity future that is bought or sold – this is known as margin money.

Does the COMEX close?

Trading in the spot month of the COMEX London base metals futures contracts terminates at 5:15 PM, New York time, on the last trading day, which is the Friday before the third Wednesday of each month.

What is COMEX short for?

COMEX is an abbreviation of the exchange’s full name: The Commodity Exchange Inc. COMEX merged with the New York Mercantile Exchange (NYMEX) in 1994 and became the platform responsible for its metals trading.