Precious Metals Options

The terms and conditions of the Precious Metals Options incorporate by reference such credit and other terms as the parties may establish through their pre-existing bilateral agreement. The Precious Metals Options have the following characteristics:

Contract Overview:	A precious metals option contract represents an option to assume a short or long position in the underlying precious metals contract at the strike price.
Reference Commodities:	Gold Silver Palladium Platinum
Contracts on Reference Commodities:	NYMEX Palladium NYMEX Platinum COMEX Gold COMEX Silver ICE Gasoil (Monthly)
Trade Date:	The date on which the parties enter into the options contract.
Option Style:	European Style: A European style option allows the holder to exercise only at the expiration date, i.e. a single pre-defined point in time. American Style: An American style option allows the owner to exercise the option at any time before the expiration date.
Call Currency:	Currency for call option.
Put Currency:	Currency for put option.
Strike Price:	The price at which an investor can exercise an option.
Expiration Date:	The date on which the option contract expires.
Expiration Time:	The time at which the option contract expires.
Settlement Date:	The date on which the option settles..
Settlement Type:	Cash Settlement
Premium:	Premium amount expressed in the premium currency.
Premium Currency:	Currency in which the option premium is expressed.
Premium Date:	The date on which the premium amount is due.
Quoting Convention & Min Increment:	Notional amount, agreed by the counterparties.
Minimum Size:	Notional amount, agreed by the counterparties.
Notional Currency:	Currency in which the contract size is expressed.