Capesize

17950

Sep-17
0.00 0.00%

Panamax

11175

Sep-17
225.00 2.05%

Iron Ore

76.5

Sep-17
0.85 1.12%

Sing 380

278.25

Oct-17

Coking Coal

208

Sep-17
0.00 0.00%

Nola Urea

212.5

Sep-17
0.00 0.00%

Urea NOLA Options Contract Specifications


Description: Single expiry, premium paid option on the underlying UREA – New Orleans (UNO) Fertilizer Swap contract for the corresponding expiry.

Contract Code: ONO

Lot Size: 500st

Currency: US Dollars

Minimum Tick: US $0.0001

Option Type: Options are Asian style and will be automatically exercised on the expiry day if they are “in the money”. If an option is “out of the money” it will expire automatically. It is not permitted to exercise the option on any other day or in any other circumstances. No manual exercise is permitted.

Option Premium: The Premium is paid at the time of purchase

Last trading day: Last publication day of the relevant index in the contract month ie the last business Thursday of every month

Exception – December contracts will expire on the penultimate Thursday, as there is no publication of an index in the week prior to New Year

Where the last Thursday of the month is a non-business day, the last trading day will be the first business day preceding.

Expiry: 18:00 hours UK time on the last trading day

Automatic exercise settings are pre-set to exercise contracts which are one minimum price fluctuation or greater “in-the-money” when compared to the relevant reference price

Members are not permitted to override automatic exercise settings or manually enter exercise instructions for this contract

The reference price will be a price in US dollars, cents and hundredths of a cent ($0.0001), per day equal to the final settlement price for the underlying UREA – New Orleans (UNO) Fertilizer Swap contract

For these purposes “final settlement price” means the final settlement price on the expiry day of the underlying UREA – New Orleans (UNO) Fertilizer Swap contract

Contract series: Front 12 months

Strike price: Any whole $ value

Margin: Options will be subject to Initial Margin and Net Liquidation Value variation margin on a daily basis

Business days: UK business days

 

The Fertilizer Indices