- Contract Specifications
- Execution Fee
According to the International Monetary Fund (IMF), the world growth has slowed to 3.3% due to the global impact of the euro crisis. Unfavourable weather events resulted in negative industrial output, which then lead to high agricultural commodity and food prices. The high agricultural commodity prices can stimulate fertiliser demand, especially in countries where farmers respond to market signals.
The Agri-commodities industry has been experiencing high volatility and speculation. In an attempt to curb price inflation and volatility, the industry now wants greater price transparency. Traders, producers, end users in related products such as grains and oilseeds are increasingly looking to manage their price and counterparty risk through cleared trading opportunities.
Fertiliser derivatives contracts are cash-settled agreements settled against the Fertiliser Index. The Fertiliser index, representing physical spot prices, is produced weekly with data provided by Argus Media, CRU and Fertecon, the world’s three most respected providers of fertiliser information.
Fertilisers Futures: Contract Specifications Urea-Yuzhnyy: UYZ
DAP-New Orleans: DNM
Lot size 500 Metric Tonnes 25 Short Tons Currency US Dollar Minimum Tick USD 0.01 Forward Curve In respect of daily settlement, the floating price will be the end of day price as supplied by participating brokersIn respect of final settlement, the floating price will be the arithmetic average of the relevant weekly indices for that contract as supplied by index publishers for that month Index Publisher Argus Media, CRU and Fertecon Contract Series Months and quarters out to a maximum of 12 months Expiry Last publication day of the relevant index in the contract month ie the last business Friday of every month.Exception – December Contracts will expire on 24th December or previous business day as there is no publication of an index in the week prior to New Year Settlement The first UK business day following the expiry day. Clearing House LCH
Trader Membership Fee Free Screen User Fee Free Fee Basis Per Metric Tonne or Short Ton Fee Value US Dollar Volume (mt/month or st/month) Effective Rate 0 – 10,000 $0.45 10,001 – 20,000 $0.40 More than 20,000 $0.35
General Terms of business
1) CLTX reserves the right to modify prices
2) Prices published serves as a point of reference and fees may vary across different market participants.