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7 Things You Should Know About Uranium Futures

By: Christopher Norton

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7 Things You Should Know About Uranium Futures

by Christopher J. Norton

On April 16, 2007 The New York Mercantile Exchange signed a 10-year agreement with the Ux Consulting Company, LLC to introduce on and off-exchange traded uranium futures. The futures products are set to debut on May 6 for trade date May 7 on both the CME Globex and NYMEX Clearport electronic platforms.

1. Trading Units
NYMEX Uranium Futures will trade in units of 250 pounds of U308.
2. Price Quotations
NYMEX Uranium Futures will trade in U.S. dollars and cents per pound.
3. Minimum Price Fluctuation
NYMEX Uranium Futures will trade with a minimum price fluctuation of 5 cents.
4. Trading Hours
NYMEX Uranium contracts are available for trading on the CME Globex and NYMEX ClearPort electronic trading systems from 6:00 PM Sundays through 5:15 PM Fridays, Eastern Time. There is a 45-minute break each day between 5:15 PM and 6:00 PM.
5. Last Day Of Trading

NYMEX Uranium Futures terminate 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.
6. Settlement
Financial, based on the spot month-end U3O8 price published by Ux Consulting Company, LLC.
7. Trading Symbol
NYMEX Uranium futures will trade under the symbol "UX".
Unlike most traditional commodity futures, NYMEX Uranium Futures are not linked to the physical material and are only financial instruments. This is due to the fact that the U.S. Nuclear Regulatory Commission is required to license individual storage facilities.

Uranium producers are poised to benefit from the increased liquidity and transparency of the NYMEX market. Increased hedging ability will allow end users to more effectively manage their positions within the marketplace.

Uranium has been in the midst of a tremendous bull market in which prices have risen from the mid $50 per pound range in mid 2006 to over $113 per pound. Spot uranium prices are up 1775% since January 2001. The debut of the NYMEX Uranium Futures Contracts should bring increased attention to already torrid Uranium market.

Christopher J. Norton is a frequent contributor to uranium-investing.org/

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