In commodity market terminology, miNY Silver refers to silver futures contracts which are half the size of regular COMEX silver futures. Silver is a precious metal used for wealth storage, jewelry, as an inflation hedge and for a number of other industrial uses.
miNY Silver futures are traded electronically on the Chicago Mercantile Exchange’s Globex electronic trading platform. miNY Silver contracts are for 2,500 troy ounces of silver and are quoted in U.S. Dollars with a minimum fluctuation of $0.0125 or $31.25 per contract. The trading symbol for miNY Silver is QI.