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class="nav navbar-nav navbar-right navbar-first-right"> <li class="dropdown"> <a href="#" class="dropdown-toggle" style="padding:17px 12px;line-height:16px;" data-toggle="dropdown"><i class="glyph glyph-cogwheels "></i></a> <ul class="dropdown-menu" role="menu"> <li><a href="/p/data/cme/CMEOverview.aspx?print=true"><i class="glyph glyph-print"></i> Printer-Friendly</a></li> <li><a href="/p/data/cme/CMEOverview.aspx?print=true&pdf=true"><i class="file-icon file-icon-pdf"></i> Download as PDF</a></li> <li class="dropdown-submenu pull-left"> <a href="#"><i class="glyph glyph-font"></i> Text Size</a> <ul class="dropdown-menu" style="width:200px;"> <li id="comfort_comfortable" class='comfortLevel active'><a href="javascript:selectComfortLevel('comfortable');">Comfortable</a></li> <li id="comfort_cozy" class='comfortLevel '><a href="javascript:selectComfortLevel('cozy');">Cozy</a></li> <li id="comfort_compact" class='comfortLevel '><a href="javascript:selectComfortLevel('compact');">Compact</a></li> </ul> </li> </ul> </li> </ul> </div> </nav> </div> </div> <div class="row"> <div class="col-xs-3"> <div style="width:125px;position:absolute;top:0;left:15px;"> <a href="/promos/AdClick.aspx?key=9&url=https%3a%2f%2fwww.uxc.com%2fp%2fproduct%2freport%2fsf-stf%23stf&exp=2024-11-23+05%3A36" ><img height="300" width="125" src="/img/i/p/promo/UxC-STF.png" alt="STF" /></a><br /><br /> </div> </div> <div class="col-xs-9"> <div > <h1> <i class="icon icon-40 icon-data"></i> CME/COMEX Uranium Futures (UX) Contract<br /> <small>CME/NYMEX Partners with UxC to Offer Uranium Futures Contracts</small> </h1> <article> <a href="https://www.cmegroup.com/" target="_blank"><img src="/images/logos/logo-cme.png" width="200" height="50" alt="" class="pull-right" /></a> <p> On April 16, 2007, UxC and CME/NYMEX issued a <a href="/p/data/cme/uxc_nymex_2007-04-13.aspx">joint press release</a> announcing the introduction of on and off-exchange traded uranium futures products on the CME Globex<sup>®</sup> and CME ClearPort<sup>®</sup> electronic platforms on May 6 for the May 7, 2007 trade date. The initial product was the NYMEX UxC Uranium U<sub>3</sub>O<sub>8</sub> Futures Contract (UX). </p> <p> CME Group announced <b>June 16, 2024</b>, that for trade date Monday, June 17, 2024, of the UxC Uranium U<sub>3</sub>O<sub>8</sub> Futures contract (Rulebook Chapter 970; Commodity Code: UX) to change the calculation of the Floating Price of the Contract. Pursuant to amendments to Rule 970101., commencing with the October 2024 contract month, the Exchange will utilize the arithmetic average of all weekly spot U<sub>3</sub>O<sub>8</sub> prices published by UxC, LLC during each contract month in the <i>Ux Weekly</i> for the calculation of the Floating Price of the Contract. Previously, only the month-end spot U<sub>3</sub>O<sub>8</sub> price was utilized for the calculation of the Floating Price of the Contract. The Exchange is implementing this amendment to the Floating Price calculation methodology to more closely align the Contract with existing market trading practices. There is no open interest in October 2024 contract month and beyond. The formal announcement can be found at: <a href="https://www.cmegroup.com/content/dam/cmegroup/notices/ser/2024/06/SER-9376.pdf" target="_blank">https://www.cmegroup.com/content/dam/cmegroup/notices/ser/2024/06/SER-9376.pdf</a> </p> <p> CME Group announced <b>June 10, 2020</b> that several Metals products will be transferring from the NYMEX Designated Contract Market (DCM) to the COMEX DCM. As part of this move, effective Sunday, July 12, 2020 (trade date Monday, July 13), the UxC Uranium U<sub>3</sub>O<sub>8</sub> futures (tag 6937-Asset=UX) will be transferred from the NYMEX DCM to the COMEX DCM. The contract will continue to clear at CME Clearing and the commodity codes will remain unchanged. To effect this change, the contract will be removed from NYMEX and added to COMEX. The formal announcement can be found at: <a href="https://www.cmegroup.com/education/articles-and-reports/transfer-of-nymex-metal-products-to-comex.html" target="_blank">https://www.cmegroup.com/education/articles-and-reports/transfer-of-nymex-metal-products-to-comex.html</a> and <a href="https://www.cmegroup.com/notices/electronic-trading/2020/06/20200601.html#trfucx" target="_blank">https://www.cmegroup.com/notices/electronic-trading/2020/06/20200601.html#trfucx</a><br /> </p> <p>CME Group announced <b>November 13, 2018</b>, that NYMEX will increase the spot month position limits for the UxC Uranium U<sub>3</sub>O<sub>8</sub> Futures contract going forward. Currently, the UX contract is capped at a monthly position limit of 1,000 contracts (250,000 pounds U<sub>3</sub>O<sub>8</sub>). However, beginning on December 3, 2018, the market will increase the position limit cap to 2,000 contracts (500,000 pounds U<sub>3</sub>O<sub>8</sub>) to provide market participants with the ability to take larger monthly positions in the future. The formal announcement can be found at: <a href="https://www.cmegroup.com/content/dam/cmegroup/notices/market-regulation/2018/11/MSN11-13-18.pdf" target="_blank">https://www.cmegroup.com/content/dam/cmegroup/notices/market-regulation/2018/11/MSN11-13-18.pdf</a> </p>  <h2>CME UX Contract Links:</h2> <ul class="list-unstyled"> <li><b>New</b> Brokers: <a href="https://www.cmegroup.com/trading/metals/other/brokers-for-uranium.html" target="_blank">https://www.cmegroup.com/trading/metals/other/brokers-for-uranium.html</a></li> <li>Quotes: <a href="https://www.cmegroup.com/markets/metals/other/uranium.quotes.html#venue=globex" target="_blank">https://www.cmegroup.com/markets/metals/other/uranium.quotes.html#venue=globex</a></li> <li>Settlement: <a href="https://www.cmegroup.com/markets/metals/other/uranium.settlements.html" target="_blank">https://www.cmegroup.com/markets/metals/other/uranium.settlements.html</a></li> <li>Volume: <a href="https://www.cmegroup.com/markets/metals/other/uranium.volume.html" target="_blank">https://www.cmegroup.com/markets/metals/other/uranium.volume.html</a></li> <li>Specification: <a href="https://www.cmegroup.com/markets/metals/other/uranium.contractSpecs.html" target="_blank">https://www.cmegroup.com/markets/metals/other/uranium.contractSpecs.html</a></li> <li>Margins: <a href="https://www.cmegroup.com/markets/metals/other/uranium.margins.html" target="_blank">https://www.cmegroup.com/markets/metals/other/uranium.margins.html</a></li> <li>Calendar: <a href="https://www.cmegroup.com/markets/metals/other/uranium.calendar.html" target="_blank">https://www.cmegroup.com/markets/metals/other/uranium.calendar.html</a></li> </ul>  <h2>Uranium Contract (UX) Overview</h2> <p> The New York Mercantile Exchange has partnered with UxC, LLC (UxC) to provide financially settled on- and off-exchange traded uranium futures contracts. The two organizations are working together to serve the needs of utilities, consumers, uranium mining and other nuclear fuel companies, governments, banking, and financial institutions by creating a pricing benchmark for the rapidly expanding nuclear fuel industry. </p><p> The NYMEX uranium futures contract will provide the industry with a transparent pricing mechanism. The contract’s final settlement price is based on the UxC index, which for the past 20 years, has provided U<sub>3</sub>O<sub>8</sub>, or “yellowcake” pricing. This term came from early production methods of the compound that yielded a bright yellow product resembling cake batter. U<sub>3</sub>O<sub>8</sub> is the most actively traded uranium-related commodity, and the UxC pricing index has been utilized by all major nuclear fuel market participants as well as the United States government and private business organizations. </p><p> Recent events affecting supply development and the need for additional clean energy sources, such as nuclear power, have created the desire for a more transparent forward price curve as well as increased risk management tools in a volatile uranium marketplace. </p><p> The uranium futures contract is available for trading on CME Globex<sup>®</sup> and clearing on CME ClearPort<sup>®</sup>. The size of each contract is 250 lbs. and prices are quoted in U.S. dollars and cents. The final settlement price is the spot-month end price published by UxC. </p> <h2>Uranium Contract (UX) Specifications</h2> <dl class="dl-horizontal dl-wide"> <dt>Trading Unit</dt> <dd>250 pounds of U<sub>3</sub>O<sub>8</sub></dd> <dt>Price Quotation</dt> <dd>U.S. dollars and cents per pound</dd> <dt>Minimum Price Fluctuation</dt> <dd>$0.05</dd> <dt>Trading Hours</dt> <dd>The contracts are available for trading on the CME Globex<sup>®</sup> and CME ClearPort<sup>®</sup> electronic trading systems from 6:00 PM Sundays through 5:15 PM Fridays, Eastern Time, with a 45-minute break each day between 5:15 PM and 6:00 PM.</dd> <dt>Trading Months</dt> <dd>60 consecutive months</dd> <dt>Last Day of Trading</dt> <dd>Trading terminates at the close of business on the last Monday of the contract month. If the last Monday in the contract month is not a business day, trading shall terminate on the last business day prior to the Monday that is not a business day.</dd> <dt>Settlement</dt> <dd>Financial, based on the spot month-end U<sub>3</sub>O<sub>8</sub> price published by UxC, LLC.</dd> <dt>Margin Requirements</dt> <dd>Margins are required for open futures positions.</dd> <dt>Trading Symbol</dt> <dd>UX</dd> </dl> <p> CME/NYMEX originally provided several additional documents explaining the new contracts. The first is a <a href="/p/data/cme/Uranium_FAQsPRESS.pdf" target="_blank"><b>Frequently Asked Question</b> (FAQ)</a> sheet addressing common questions and a copy of the <a href="/p/data/cme/Uranium_specs.pdf" target="_blank">contract specifications</a>.  </p> <h2>CME/NYMEX Press Releases</h2> <ul> <li>Jun 10, 2020: <a href="https://www.cmegroup.com/notices/electronic-trading/2020/06/20200601.html#trfucx" target="_blank">Transfer of NYMEX UxC Uranium U308 Futures to COMEX</a></li> <li>Nov 13, 2018: <a href="https://www.cmegroup.com/content/dam/cmegroup/notices/market-regulation/2018/11/MSN11-13-18.pdf" target="_blank">Amendment to Increase the Position Limit for UxC Uranium U3O8 Futures Contract</a></li>  <li>Apr 17, 2008: <a href="https://www.cmegroup.com/tools-information/lookups/advisories/market-data/Q2008-074.html#pageNumber=1" target="_blank">NYMEX Uranium Calendar Spreads on CME Globex</a></li>  <li>Sep 25, 2007: <a href="https://www.cmegroup.com/media-room/press-releases/2007/9/25/nymex_to_change_marginsforuraniumfuturescontracts.html" target="_blank">NYMEX to Change Margins for Uranium Futures Contract</a></li>    <li>Apr 16, 2007: <a href="https://www.cmegroup.com/media-room/press-releases/2007/4/16/nymex_partners_withuxconsultingtoofferuraniumfuturescontracts.html" target="_blank">NYMEX Partners with UxC to Offer Uranium Futures Contracts</a></li> </ul> <p> UxC has provided further discussion about the futures contacts and the uranium market in the <a href="/p/cover-stories/UxWContent.aspx?key=7407">April 16, 2007</a>, <a href="/p/cover-stories/UxWContent.aspx?key=7466">May 7, 2007</a>, <a href="/p/cover-stories/UxWContent.aspx?key=8484">May 5, 2008</a>, <a href="/p/cover-stories/UxWContent.aspx?key=16201">Aug 1, 2016</a>, <a href="/p/cover-stories/UxWContent.aspx?key=17046">Jul 24, 2017</a>, and <a href="/p/cover-stories/UxWContent.aspx?key=19285">Aug 19, 2019</a>, cover stories in the <a href="/p/product/periodical/uxw"><i>Ux Weekly</i></a>. </p> </article> </div> </div> </div> <div class="footer"> <div class="row"> <div class="col-sm-8"> <div> <a class="no-wrap" href="#PageTop"><span class="text-muted">BACK TO TOP</span></a>  |  <a class="no-wrap" href="/">HOME</a>  |  <a class="no-wrap" href="/SiteMap.aspx">SITE MAP</a>  |  <a class="no-wrap" href="/p/Terms.aspx">Terms of Use</a>  |  <a class="no-wrap" href="/p/Privacy.aspx">Privacy Policy</a>  |  <a class="no-wrap" href="/p/corp/directory">Contact Us</a> </div> <table class="no-border" style="margin-top:15px"> <tr> <td class="small"> © 2024 UxC, LLC<br /> All rights reserved. </td> <td style="padding-left:20px;"> <a href="https://x.com/uxc_nuclear" target="_blank"><img src="/images/logos/logo-x.svg" height="24" /></a> </td> <td style="padding-left:20px;"> <a href="https://www.linkedin.com/company/the-ux-consulting-company-llc/" target="_blank"><img src="/images/logos/logo-linkedin.svg" height="24" /></a> </td> </tr> </table> </div> <div class="col-sm-4"> <br class="visible-xs" /> <div> <b>UxC, LLC</b> <br /> <br class="hidden-xs" /> <p class="small" style="margin-bottom:0;"> <b>Corporate Office:</b><br /> 1501 MACY DR  |  ROSWELL, GA 30076 USA<br /> +1 (770) 642-7745 </p> </div> </div> </div> </div> </div> <script type="text/javascript"> //<![CDATA[ window.__TsmHiddenField = $get('ctl00_ctl00_RadScriptManager1_TSM');//]]> </script> </form>   <script async src="https://www.googletagmanager.com/gtag/js?id=G-G2E03GW481"></script> <script> window.dataLayer = window.dataLayer || []; function gtag() { dataLayer.push(arguments); } gtag('js', new Date()); gtag('config', 'G-G2E03GW481'); </script> </body> </html>