Silver T+D does not have a fixed expiry date, but that does not mean a position can be left open indefinitely without conditions. This guide explains how daily settlement, deferred compensation fees, closing and delivery arrangements affect longer holding periods.

Silver T+D uses lots to express trading quantity, but the exchange-level transaction fee is calculated primarily from transaction value and the applicable rate. This guide uses one-lot and multi-lot examples to explain the 2026 Ag(T+D) fee structure.

When Silver T+D enters weekend or holiday closures, open positions remain active on account balance sheets, even though investors temporarily cannot execute trades through domestic trading platforms. Meanwhile, price-sensitive developments do not cease. Geopolitical developments, macroeconomic releases, industrial headlines, and global market sentiment continue to evolve throughout market closures.

The most prominent feature of Silver T+D trading hours is its division into daytime and nighttime sessions. According to the Shanghai Gold Exchange contract information, Ag(T+D) trades from 9:00 to 15:30 during the day and 19:50 to 2:30 the next day at night. In other words, unlike ordinary daytime-only products, it incorporates evening hours into the trading schedule.

In the precious metals trading system, "Silver T+D" is a trading product name with distinct Chinese characteristics. Many beginners puzzle over the meanings of "T" and "D" upon first encountering it. Without grasping these letters' implications, it's hard to truly understand the product's institutional logic and trading structure.