ABC Refinery Australia receives CME Group Accreditation for silver
23rd November 2021
ABC Refinery is proud to announce our silver bars have received accreditation from the United States based CME Group and will be accepted for settlement of COMEX ‘SI’ silver futures contract, effective 10 November 2021.
This accreditation sees ABC Refinery silver products added to the COMEX good delivery list of brands used to physically settle against the SI gold futures contract in New York.
ABC Refinery now holds a dual accreditation with CME Group, with ABC Refinery gold products accepted for the settlement of ‘GC’ gold futures contracts last year.
ABC Refinery is the refining division of the Pallion Group, Australasia’s largest independent precious metal services group of companies and have been involved in the refining and processing of precious metals in Australia since 1951.
ABC Refinery currently refines over 85% of all primary silver in Australia, with capacity to refine in excess of 800 tonnes per annum. ABC Refinery continues to gain market share through its world leading environmentally friendly technologies as well as its commitment to bringing Considerate® Precious Metals to the market.
Pallion Group Chief Commercial Officer David Woodford said: “ABC Refinery’s accreditation by CME Group for settlement of COMEX silver future contracts is further recognition of the importance of ABC Refinery’s silver production to the world market. As Australasia’s largest silver refiner, ABC Refinery is proud to have achieved this exclusive international accreditation”.
The addition of ABC Refinery to the CME Group’s listing of Good Delivery brands for the SI silver futures contract offers traders and investors all over the world access to the ABC Bullion brand via the COMEX exchange.
Inclusion on this prestigious Good Delivery list is a testament to ABC Refinery’s ability to refine and manufacture silver products at a global standard and meet the exacting technical standards of the CME Group.
This accreditation complements ABC Refinery’s dual accreditation status of Good Delivery silver with the London Bullion Market Association.
ABC Refinery is the exclusive manufacturer of ABC Bullion branded products and the COMEX silver futures accreditation further solidifies ABC Refinery as a world class producer of gold bullion and a refiner of choice.
COMEX silver futures represent the world’s leading futures contract for silver prices and trading. The contract offers superior liquidity than any other silver market, trading upwards of 500 million ounces daily.
The silver futures trade virtually around the clock, 23 hours per day, enabling the world to access the market at times that work best for their schedules in whatever time zone they may be situated.
About CME Group:
CME Group. is a global markets company made up of four major financial exchanges:
- Chicago Mercantile Exchange CME
- Chicago Board of Trade CBOT
- New York Mercantile Exchange NYMEX
- The Commodity Exchange COMEX
It is the world's largest financial derivatives exchange group and trades in numerous global asset classes ranging from agricultural, energy and metal products through to currencies, energy, interest rates and stock indexes
CME Group offers futures contracts and options on futures using its CME Globex trading platforms, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates a central counterparty clearing provider, CME Clearing.
About ABC Refinery
ABC Refinery is Australasia’s pre-eminent independent precious metal assayer, refiner and mint. ABC Refinery is Australia’s only independent refinery accredited by the London Bullion Market Association and the Shanghai Gold Exchange. ABC Refinery is the refining division of Pallion, Australasia’s largest independent precious metal services group of companies. Pallion has been involved in the refining and processing of precious metals in Australia since 1951. See www.abcrefinery.com
Media image resources at Pallion.com/resources/downloads