Commodities

Business Streams

Description	Fertilizer swap contracts cash settled against: UREA – New Orleans (UNO) UREA – Yuzhnyy (UYZ) UREA – Egypt (UNE) DAP – Tampa (DTA) DAP – New Orleans (DNO) UAN – NOLA (UAN)
Lot Size	500mt – UYZ, DTA, UNE 500st – UNO, DNO, UAN
Currency	US Dollars
Minimum tick	US $0.0001
Fixed price	The traded price or the previous day’s settlement price as supplied end of day by FIS brokers
Floating price	In respect of daily settlement, the floating price will be the end of day price as supplied by FIS brokers In respect of final settlement, the floating price will be the arithmetic average of the relevant weekly indices for that contract as supplied by FIS for that month The index publishers are FertilizerWEEK, Fertecon and FMB
Contract series	Front 6 months, 4 quarters
Expiry	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 expiry day will be the first business day preceding.
Settlement	The first business day following the expiry day
Delivery	Cash settled monthly against the average of all the relevant indices for that contract during the month
Business Days	UK Business Days